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Eighth Wonder of The World
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2012
#11 Posted : Tuesday, May 06, 2014 12:26:50 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Mukiri wrote:

Sound advice there. I've always wondered with people who put money in the bank, money that should be making you more money! I've been fighting my chama on this.

Second is salaried employees who look forward to their salaries so that they can spend it! If you are paying rent from your salary, you are a slaveSad


Are you saying that people should pay rent from their passive income? How practical is that?


BBI will solve it :)
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The optimist
#12 Posted : Tuesday, May 06, 2014 1:29:07 PM
Rank: Member

Joined: 6/14/2010
Posts: 521
Location: Nairobi
MaichBlack wrote:
I know I am preaching to the choir here but I will do it anyway because there might be a few who are not converted yet.

Invest and Re-invest your earnings

Many invest, few re-invest. My message to the "non-believers" today is start reinvesting your earnings/dividends/bonuses/wind fall income etc. and experience the power of compounding. Look at these money not as fruits but seeds.

Motivation for this thread: Every time it's dividend payment time, very many wazuans start talking/implying how they will spend their dividends and I can't help but wonder, are these fruits or seeds?

But it all depends on the stage of investment you are in. At one point you have to sit kivulini and "eat" mali yako. If you started investing the same period as @guka, by all means enjoy the fruits of your hardwork. The rest, re-invest!

Keep preaching this until we all learn. Very inspiring indeed.
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stock.enigma
#13 Posted : Tuesday, May 06, 2014 1:46:15 PM
Rank: Member

Joined: 8/14/2009
Posts: 244
"Look at the(i)se money(dividend)not as fruits but seeds."

I like the advise
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xtina
#14 Posted : Tuesday, May 06, 2014 3:14:53 PM
Rank: Member

Joined: 6/26/2008
Posts: 399
MaichBlack wrote:
I know I am preaching to the choir here but I will do it anyway because there might be a few who are not converted yet.

Invest and Re-invest your earnings

Many invest, few re-invest. My message to the "non-believers" today is start reinvesting your earnings/dividends/bonuses/wind fall income etc. and experience the power of compounding. Look at these money not as fruits but seeds.

Motivation for this thread: Every time it's dividend payment time, very many wazuans start talking/implying how they will spend their dividends and I can't help but wonder, are these fruits or seeds?

But it all depends on the stage of investment you are in. At one point you have to sit kivulini and "eat" mali yako. If you started investing the same period as @guka, by all means enjoy the fruits of your hardwork. The rest, re-invest!


Applause Applause Applause Applause
Mzee Young reincarnated! I remember him offering the same advice back in 08/09. Reinvesting is fine but you also gotta pay tithe. Ama?
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xtina
#15 Posted : Tuesday, May 06, 2014 3:17:22 PM
Rank: Member

Joined: 6/26/2008
Posts: 399
Mukiri wrote:
Applause Applause Applause @MaichBlack

Sound advice there. I've always wondered with people who put money in the bank, money that should be making you more money! I've been fighting my chama on this.

Second is salaried employees who look forward to their salaries so that they can spend it! If you are paying rent from your salary, you are a slaveSad


Rent, school fees, fuel, entertainment on a salary. How do people do it?
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streetwise
#16 Posted : Tuesday, May 06, 2014 6:09:28 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
The equation about rent is like this:

The wise man finds a house and goes to the bank to obtain a mortgage to buy the house. He intents that one day the house will be not only his but will be loan free.

Once he has obtained the mortgage he says to himself, why should i pay the monthly payments till the mortgage is fully paid. This to him not a nice idea and headage.

He says to himself why not find someone to pay the mortgage for me..and sure enough he finds someone who is so excited to not only pay the mortgage monthly rates but also stays in the house keeping it safe till the mortgage in fully paid at which time the guy who initially obtained the mortgage can say to the good Samaritan.. I need to occupy my house.

Question: who bought the house and who is the final owner ?
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a4architect.com
#17 Posted : Tuesday, May 06, 2014 6:12:02 PM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@streetwise, the renter also bought the house in terms of time value. Assuming a house has time value of 30 years, and the renter lives in the house for 10 years, he bought the house for the 10 years presumably.
As Iron Sharpens Iron, So one Man Sharpens Another.
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Murang'a
#18 Posted : Tuesday, May 06, 2014 6:17:22 PM
Rank: Member

Joined: 3/3/2014
Posts: 131
streetwise wrote:
The equation about rent is like this:

The wise man finds a house and goes to the bank to obtain a mortgage to buy the house. He intents that one day the house will be not only his but will be loan free.

Once he has obtained the mortgage he says to himself, why should i pay the monthly payments till the mortgage is fully paid. This to him not a nice idea and headage.

He says to himself why not find someone to pay the mortgage for me..and sure enough he finds someone who is so excited to not only pay the mortgage monthly rates but also stays in the house keeping it safe till the mortgage in fully paid at which time the guy who initially obtained the mortgage can say to the good Samaritan.. I need to occupy my house.

Question: who bought the house and who is the final owner ?

And what if the good Samaritan decides to tell the owner...I need to take a mortgage for my own house...before the mortgage period elapses.

Is the arrangement among the three i.e including the mortgage company or just a local arrangement between the two guys?
IMITATION IS LIMITATION
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  | | Edit by user: Tuesday, May 06, 2014 6:19 PM | Reason: Not specified
mwekez@ji
#19 Posted : Tuesday, May 06, 2014 7:45:39 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Very good advise @MaichBlack Applause
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Sufficiently Philanga....thropic
#20 Posted : Tuesday, May 06, 2014 7:48:23 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
xtina wrote:
Mukiri wrote:
Applause Applause Applause @MaichBlack

Sound advice there. I've always wondered with people who put money in the bank, money that should be making you more money! I've been fighting my chama on this.

Second is salaried employees who look forward to their salaries so that they can spend it! If you are paying rent from your salary, you are a slaveSad


Rent, school fees, fuel, entertainment on a salary. How do people do it?

Add to these,mortgage repayments plus that car loanSad
@SufficientlyP
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