In 1990, Shina Peters built a house with N20 million naira; the same year Jim Ovia started Zenith Bank with the same amount.
Today, you and I don't have a room in Shina's house but I have an account in Jim's bank and probably you do too.
Shina's house was built in Iju Lagos Nigeria and remains there till date.
Jim's bank started in a corner and now has over 500 branches in Nigeria, and many international branches.
Millions upon millions transact business in Jim's bank daily.
Shina's house is becoming dilapidated...in 2015, he SPENT more money to renovate the house and bought a Nissan Pathfinder with N10 million...additional liability, while in the same 2015, Jim's bank MADE a profit of N105.7 billion.
Zenith bank employs hundreds of thousands, and feeds their families.
This is the difference between Assets and Liability. If you buy a car for N20 million today, in 20 years time, you will be ashamed to drive it. On the other hand, if you invest that same amount in a lucrative business or in an asset, It may be worth billions in 20 years. ( Jim Ovia is now worth $980 million dollars, with the official dollar rate of N320, that means he is worth N313 BILLION NAIRA because of an investment of N20 million).
Spend the little money you have today wisely. Some people driving expensive cars today, are not aware that they are driving their future and the future of their children. Some people carrying iphone7 today, may not be aware that they are carrying their future.
When you are young, don't spend money. Invest it.
Every penny in your hand is like a seed, you can decide to eat it, or sow it. When you sow it, it will bear much more seeds later in future.
Let's be wise and keep steeming the future is bright
Both are a type of investment but I have found out that investment into ppl will always be greater at the long run than investment for yourself
Nice post....Invest wisely....
This analogy is wrong and misleading ma.
Investment in people is better than self investment
Both are good investment, only that one pays off on the long run than the other... Nice one though.
Good analysis. However, house is also an investment.
Invest and also enjoy life my sister. Being rich is not by "investing" alone. Iphone 6 or 20m car shouldn't hinder you. These people mentioned above didn't become this successful today by just investing alone. The key is to have good money management strategy and your wealth will be enjoyed by your children's children. The extremely rich still go broke today regardless of the great investment they did in the past. With good money management, you will invest more, ball hard and still stay rich.
Good post.