Money, money, money, it's so funny, it's a rich man's world! A lot of songs have been sang about money because it is a serious matter,o! And the best way to keep this money flowing is by saving and investing wisely.
I met Tomie Balogun last year (online that is...Lol! We finally met at the workshop) through my twinny (Yes,o! Na so this girl dey for my life! Na she be my Financial Advisor. Hehehe! Love you, Q! 😚). She had tagged me on Tomie's Instagram page and that's how I started following and communicating with her. Tomie is such a sweet soul 💋
Tomie asked this question during her opening presentation. This question always saddens me 😩 Because it makes me ask myself, 'Come Nnenna, what tangible asset do I have in my name sef?' And most times I just can't answer. When she started breaking down what 'Net-worth' means, I started feeling a sense of relief that at least I had some tangible assets to my name, even if they looked really small to me. In a nut shell, Net-worth is determined by subtracting your liabilities (what you owe/debts) from your assets (what you have/property & investments owned) at a specific moment in time.
The workshop was very educative and interesting. I particularly enjoyed the panel session which consisted of the following financial gurus:
Onyeka Akumah who is the CEO & Co-Founder of Farmcrowdyng, Nigeria's first digital agriculture platform;
Kenneth Kanebi who is the Head, Equities Trading at Rand Merchant Bank Nigeria Ltd and
Moturayo Adefamoti who is the CEO, Money Stewards Limited an investment club with a portfolio of investments in Europe, North America, Dubai and Africa.
I really enjoyed the debate between Moturayo and Kenneth. They both enlightened us on why we should either invest in Nigeria or abroad or in both.
L-R: Kenneth Kanebi, Moturayo Ade-Famoti, Onyeka Akumah & Tomie Balogun
Photo Credit: Tomie Balogun
Some Financial organizations were also in attendance:
Coronation Securities is a subsidiary of Coronation Merchant Bank and is a licensed broker dealer regulated by SEC and NSE. They were at the workshop to give those in attendance the opportunity to tidy up their stock portfolio.
Asset & Resources Management (ARM) Investment is an investment management expert organization. They were at the workshop to talk about their investment products.
My first Investment was with Oceanic Bank (Now ECO Bank) shares while in university. I don't know what has happened to it till date 😒 Though I still get my dividends in 'N50s' and 'N100s' 😐 I will get Coronation Securities to help me track it. Then my next investments were with ARM (Thanks to Shola Coker) and Stanbic IBTC (Thanks to Twinny) Mutual Funds.
The following points are what I learned from the workshop:
(1) Know your RISK ABILITY. That is, set your mind to be ready to lose when entering any investment.
(2) Know the PROFILE of the organizations you want to invest in. Don't just enter and invest in an organization, know everything about them before you invest in them.
(3) Know your MICRO-ECONOMIC ENVIRONMENT. For example: Economic indexes such as recession, currency depreciation, booming economy and Political climate such as new and old regimes and their policies. These events help to decide if you will gain or lose in any of your investments. A good example is the recession currently happening in Nigeria. We were advised that now is the best time to buy stocks. Also the agriculture industry is booming, thanks to the likes of Farmcrowdy who are investing in Nigerian farmers and their farms.
(4) Don't TRUST your stocks to your stock broker only. ENGAGE your stock broker and check information on stock rates. Na your money!
(5) Don't buy stocks in a sector you DON'T UNDERSTAND.
(6) You don't always GET IT RIGHT when investing. You will lose some and gain some. Look for organizations that have good dividend record history, at least for the past five (5) years.
(7) EXPAND YOUR MIND when investing! Don't be just a local champion...be an INTERNATIONAL champion! Invest in the international market as well. There are a lot of great opportunities there too.
(8) Take RISK to LEARN and not to be GREEDY! #GBAM!
Next, Tomie Balogun gave us a breakdown of what it entails to start an Investment Club. To learn more check out her FREE e-book on How To Start Your Investment Club.
The final session was the most anticipated GAME OF CLUBS! That's one of the most exciting session on Tomie's workshop. My group of friends and I were so eager to be crowned the champions of the quest for this year's edition. The name of our club was THE ACE CLUB. And oh did we 'ace' our game...but not as we hoped! Lol! Sadly we didn't even make it to the top two 😞 But our consolation was that we made some good investment decisions and some cool cash! That's the koko (Meaning the 'main thing')! Lol!
The ACE CLUB Team
Photo credit: Tomie Balogun
The game was getting HOT! We had to stand to ACE our game!
Photo credit: Tomie Balogun
We really enjoyed the workshop. And I'm looking forward to starting an investment club with some of my trusted friends.
Photo Credit: Tomie Balogun
With the beauty and brains behind the workshop, Tomie Balogun 😗
With my Twinny and Financial Advisor, Queen-Anne Ifekoya
Kindly follow Tomie Balogun on Instagram and subscribe to her website to keep you informed on her next workshop. You shouldn't miss it if you want to 'ace' your financial game. 😉
Yes, your FINANCIAL future matters....