My old man has retired from civil service and he will be getting around 3 million as lump sum.Advice on good investment with that amount since he has called on me for suggestion as I am currently jobless and I also need to kickstart my career?
3m is little in the world we live in today, it would be good to get in touch with an actual financial advisor. Like seriously this isn’t a matter to come here for suggestions.
First of all before you decide to rush into investment, put 2 million in a term investment like Treasury bills or bonds that makes 15% per annum. That will be 300000 a year. That will be 25000 a month as your financial safety net which means you will not be sleeping hungry at all. For the remaining 1 million take your time to chose. It can be a business or farm. Start with a conservative amount like 300000 and just try to break even in the first year. After one year look at both returns, which is doing well than the other. If business brings more than 25000 monthly then don’t renew the term investment for another year with the full amount Do it 50% business, 50% term deposit investment. Slow but sure.
:oops::oops: are you serious on those rates? Where can I get those because I need that type of return today!
wisdom
How foolish of you!
There are financial advisors here in this site, too. Not everyone is as useless as you.
Why do you people take joy in diminishing other people? Eti your first statement is ‘3m is little in the…’. Nigger, how many people in this country have that kind of money?
12%, not 15%. But very sound advice.
Mzee kama hawajawai fanya biashara in his 30 years of employment, asianze saa hii. That 3 million will be gone in less than an year.
It’s not about how many people have this amount, it’s about how easy it is to loose that cash.
If you’re renting, then that’s about 240k per year on rent assuming 20k per month.
You have kids, school fees, food, transport and what you need to do, add to that list…
For someone who has stopped working, this is little money as there is no more income coming in.
You of all people should know these things.
I have to say with the right, advice and investment the money can be utilized to bring more revenue. Hence financial advisor.
Apitie sabina joy kwanza
If your dadhas never ventured into business let him not try at this point. He might want to buy an annuity with that money. I think he could get 30k per month with 3m.
Tell your old man to put half of that cash in a call deposit account where he can negotiate a nice monthly interest rate. It can be enough to sustain him and you for life. My 2 cents.
Hio ingine mnaeza sasa kaa chini muamue kile mtafanyia. Kitu ile naona poa ya kufanya na the remainder is to buy land and somewhere in the countyside and enjoy life.
brilliant idea
Like previously mentioned,him starting a biz now having never done biz before would be a very huge mistake.
Another mistake retirees make is starting small real estate projects upcountry where returns are too small to ever make sense hata hiyo asijaribu.
Let him explore option ya treasury bills ama fixed deposit.
Ata mimi nataka kujua niaje hapa
Na taxes?
I don’t think those rates exist anywhere in the world. Global Investors would all flock here crowding out all local investors
Sikuizi ziko below 10% the only people who are giving this kind of returns ni cytonn.