2012 wrote:
One morning about one year after I got my first job I alighted from a mat going to work and if you know what cats and dogs is, then this was it! Rain was pouring like a river. I had to cross those two roads on msa rd and after getting a second shower for the day courtesy of splashes from some motorists, I arrived at work and my boss asked me kindly to go home for the day. That's when I started saving 80% of my salo to buy a car to get me to work, the rave and home.
In two months I was debt free and by the time the amount was enough to buy a car I was much wiser and the car was no longer a priority, I got 3 acres in Kitengela for 280k and half acre in Kinoo for 200k (wasn't prime then) and later sold 2acre from Kitengela for 1.8m. And that's my story.
Inspiring story. Won't dwell on how I made my first million but how I lost my first million. Sadly too many young folks lose their first million in a very similar manner. When I graduated from campo some years ago, I was lucky to get a job within a week of my graduation. After a month, I was posted to the rift valley to start another branch of the biashara. I got a one bedroom house that we shared with a colleague who was earning far less than me. We lived cheap and within a few months I had saved quite a sum.
My undoing was that I really wanted to buy a car. Looking back, I really did not need one as there was a fairly good transport system to and from town to the estate. I even had the photos of my favorite model on the wall next to my bed. Which really inspired me to save hard. I recall it was on a valentines day that I purchased it. I then went into overdrive pimping the ride. Bought these reams, bigger tires, music system, paint work etc. I then had to move to a much bigger house which had better parking and security for my car. Then the road trips started. Weekends!
The company started having cash flow problems and we all had to take a pay cut and delayed payment. I opted to resign and went back to school. That was my turning point. I sold the car and put the cash into stocks after my brother convinced me that it was worth a try. Luck was on my side because I made quite a serious chunk within a year. I withdrew and used the cash to buy my first piece of land. Looking back, had I used my head back when I first got employed and holding all things constant, I would have been so far ahead in life investmentwise. That is how I lost my first million.