Nigerian author, Reno Omokri has educated social media users on the need to make money.
The former Nigerian presidential aide gave this advise in a recent post he made on his verified social media handle on the popular social media platform, Twitter.
According to him, there are several reasons why an individual should save money, however, two of these reasons are of upmost importance.
The post he made reads;
“There are only two reasons you should save money:
1-Save to invest when what you have is too small to invest
2-Save for emergencies
Other than these, you should not save money, because inflation reduces its value. Spend on necessities and invest the rest.”
The post got people also sharing their views and some of these reaction are;
@taadelodun – 100%. Inflation in Nigeria is double digit. Meaning the price of goods and services are increasing from time to time. If our income is the same, we will be getting poorer. Once we have saved our emergency fund, the rest is to be invested in assets like Stocks, bonds, real estate
@GregMexico760 – by invest i hope include Real Estate as well as other platforms, instruments across the various markets – The ROTH is flexible and a fantastic option far less restrictive than old school IRA’s or 401K accounts – cash in banks which is liquid and gains little to no interest
@fejiIyeke – Your success depends on the risks you take, while your survival depends on the risks you avoid.
@Lugonson – What if I save in dollars sir, I have this money I want to use later in the year but don’t want to mismanage it l.
Source: ghgossip.com
