JUST IN: Nigerian can now apply for an electronic Visa to Thailand.
NO need anymore to submit passport or any documents to any physical office in Abuja.
All you need to do is apply online and you also get the visa approval online by email.
A glimpse of Thailand. And oh yes, we have more resources than them, but they used their soft power, their culture, and agriculture to become the center of tourism of the whole world. People from America and Europe have 3x the population of Africans in Thailand because it’s a beautiful place, with safety and organized government.
Please I want to be bastardly rich. How do I go about it?
While I am not bastardly rich (yet). I think I have done enough research to tell you how.
1. Get a job.
It could be anything but you need something that pays you to have enough money to invest and grow your wealth, and if you need to upskill to get a better-paying job, then do so. Regardless you need a source of constant inflow.
2. Pay your debts.
Especially the ones with interests. While borrowing is not a bad concept in finance, you should only borrow when you stand to gain more in the form of investments. Which I’ll get to.
3. Cut down your spending.
A lot of the things we pay for or buy are unnecessary, waste, redundant and luxurious even if we aren’t rich yet, for example, if you pay for both Netflix and Amazon Prime, why? Sometimes you pay for a subscription you do not even use, if possible, have a budget and track all your spending from time to time. You should know where every kobo of your money is going, You want to make sure you are not leaking funds. And Finally, just because you can afford it, doesn’t mean you should pay for it, so for example, if you use iPhone 11, and your 11 is working just fine, there is absolutely no need to upgrade to the latest even if you have the cash. You can use it for years until it breaks. The goal is to build wealth not live like you’re rich when in reality you aren’t. Being rich is based on how much you have, not how much you spend. When you spend it, you no longer have it.
4. Save.
Having savings is very important, for two reasons. One is for emergencies, so you do not have to go against your budget in case of unforeseen events. The second is very similar, but that is in case you lose your job or your investments fail, so you do not have to start from 0 again or borrow, and you can have something to live on while you work on your next move.
And this should be done in 3 ways. Many people would like to say these are an option but I have never seen a bastardly rich man without these 3 investments:
A. Your own business.
Have a for-profit business that does something meaningful which you can maintain to earn more or build to the point where you can sell it to an even bigger company.
B. Real Estate.
And I don’t mean buying land 5 minutes away from the Dangote refinery and hoping that the price rises in 5 years. But rather more like owning houses and having tenants or buying, renovating then reselling those houses. These are also great options for constant inflow.
C. Stocks.
You should learn how to invest in stocks of companies like Tesla – TSLA and Apple – AAPL and also smaller companies with great potential as well as index funds like the Vanguard 500 index funds ETF – VOO. And others. It’s important to learn and do your research cos this is just me citing examples and not financial advice. Check out this Stocks investment guide
6. Read and watch a lot of finance books and videos.
There is a lot I possibly can not put in one post and a lot of not common knowledge that you can only know by reading finance books.
7. Japa
Yes. Nigerian economy is relatively small and weak. You cannot become bastardly rich in Nigeria cos the economy can’t support it, to be a billionaire for example that billion dollars has to come from somewhere, and since we do not have that many billionaires in Nigeria, plus most of the population are very poor, your chances are very very very slim. However people do, but there is a common trend with them, most are government-affiliated, so you know its either forced or stolen.
8. Be prepared to take calculated risks
And while this can mean different things, I am just going to add here that many bastardly rich people have had to make some very difficult decisions in their lives, some of which are against their characters, morals, will and sometimes agaist the law. As you grow in wealth, one day yours will come, and it’s important to make the right decision, cos sometimes, the risk might be worth it.
This is the ULTIMATE GUIDE on How to Invest in US Stocks.
In this post, I will teach you how to invest and make money, in a simple and easy way.
I want to keep this post as short as possible so let us get right into it.
Disclaimer:
This is not financial advice; I am only teaching you how to use the tools available to do your research and make your own decisions on what to invest in. Like any other form of investment, Stocks also involve a fair amount of risk, so make your own informed decisions and talk to a financial expert if need be.
What is Investment?
First of all, what does it mean to invest? Well, it is kind of like buying something, anything, for example, buying a smartphone, and then keeping it until the price of the phone you bought has changed, so you then go back to sell it to someone else at the new price.
But in this case, we won’t be buying physical products like smartphones, we would be buying stocks instead.
While there are other forms of investment we can make, like in crypto or real estate, I will be focusing on stocks in this post alone, because, unlike crypto, stocks are not as volatile, as it is regulated and do not just depend on demand and supply, and unlike real estate, stocks do not require you to have a large amount of capital.
Also, you might be surprised to know that you can still invest in crypto and real estate using stocks. I will teach you everything here.
What are Stocks?
Stocks are ownership in a real existing company, for example, buying stocks in Apple means you own part of Apple.
Owning stocks of a company sometimes means that you even get to vote on decisions made in that company, while in some other cases, the company gives you part of the profits made, as an owner that you are.
If the value of the company goes up, so does your stock value, and you can then sell at the new price, and make profits.
Where can I buy Stocks?
You can only buy stocks in a company that is “publicly traded”, meaning that the company has allowed anyone in the public to be able to buy shares in their company, and for them to do this, they have to be on what’s called the Stock Exchange, which is like a marketplace you go to to sell your stocks.
The marketplace is regulated by different regulatory bodies, many countries have their own Stock Exchange, for example, the NGX (formally NSE) is the Nigerian Exchange Group which regulates the market of publicly traded Nigerian companies, while the NYSE (The New York Stock Exchange) and NASDAQ regulates the Stock Exchange for publicly traded US companies.
These regulations by the Stock Exchange is a lot but most importantly, unlike private companies, public companies must disclose their financial and business information regularly to the public, this means that how well or bad a stock does on the Stock Exchange is not just random or entirely left to demand and supply, it is many times based on news of how the company is actually doing in real life, and because of this, just like companies do not open on weekends or holidays, so does the stock market.
This is one reason why investing in stocks is not as risky as some other kinds of investments that are totally left to the forces of demand and supply. Before investing in any company stocks, you can and should learn about the company, learn about how they earn revenue, review their quarterly reports and subscribe to news about the company.
ONLY INVEST IN COMPANIES YOU KNOW AND TRUST, not companies some random guy told you to.
The companies I will mention in this post are only used as examples to teach you how to invest.
How To Buy US Stocks In Nigeria
To continue, we need to download Bamboo. Bamboo is an app that allows us to buy stocks listed on the NASDAQ and NYSE Stock Exchanges, and the NGX.
Other apps can be used for this but I will only recommend Bamboo because that is what I personally use, and it is the best for stock investment.
After you have downloaded the app, tap on “start building wealth” to create an account and complete all steps in the signup process.
Fund your wallet
Now it is time to fund your wallet, you can do this in multiple ways, but what you should know is that there are 2 main wallets, a USD wallet and an NGN (Naira) Wallet.
Funding the NGN wallet is like funding any other Nigerian app wallet, tap on your NGN wallet and tap on deposit, enter an amount, a minimum of $1 when converted so you can literally start with 2k, choose your preferred payment method, you can either transfer or use your Naira card. It is that easy.
Similar to the USD wallet, the process is the same, you can fund your wallet using a USD/domiciliary card from any bank or you can transfer to a brokerage account using Swift or ACH, for those that know.
However, because we are buying stocks of American companies, we buy every stock in USD.
Meaning that after you fund your NGN wallet, you have to convert that NGN to USD, using the transfer option, when you tap in your NGN wallet, just beside the deposit button, you can easily convert your Naira to USD.
Let’s buy some US stocks
Now we have our USD, it is time to buy some stocks. You can go back to the homepage and tap on “Invest” in the bottom navigation. There you will see a long list of companies to choose from and you can even search for a particular company.
Searching for a company is easy, this is because every company on the Stock Exchange has a ticker symbol, which is like a username to help identify specific companies. So for example, the ticker symbol of Apple is “AAPL”, while Alphabet(google’s parent company) is GOOG.
You can of course just search for the company names in full, but if you know their ticker symbol (which you can just google), it is a lot more straightforward, as multiple companies can have similar names.
When you find the company you want, you can tap to see the company details, its stock chart, recent news about the company and just a lot more.
Bamboo shows a lot of information to help you make a decision, so much so that I cannot possibly list each and everyone here.
But just below all that information is the “BUY” button.
When you tap on buy, you are presented with a couple of options, with explanations of what those options mean, but let us just tap on “Buy Now”.
Enter the amount you want to buy, review the order and complete your purchase
Congratulations, you just bought your first stock.
You can do the same process for any other companies you are looking to invest in, or if you do not have the funds yet, you can just add that company to your wishlist using the love icon in the top right corner of the company details.
If you are not sure what companies to Invest in, Bamboo offers “personalised investment”, where by answering a few questions, Bamboo can recommend a list of companies to invest in based on your risk appetite. This can be found at the top of the list on the Invest page.
But even on top of that, Bamboo has various categories of stocks you can invest in, including “the Magnificent 7” (the 7 most popular stocks), stocks their ambassador like Falz are invested in, stocks world-renowned investors and finance experts like Warren Buffet are invested in, and categories based on different industries like REIT for Real Estate and Bitcoin stocks.
What are Bitcoin Stocks (ETFs)?
Bitcoin Stocks, you ask? Well, first I have to explain what is called an ETF.
ETFs, or Exchange-Traded Funds, are investment funds that are traded on a Stock Exchange, just like individual stocks, but rather than an individual stock, it is usually a collection of multiple individual stocks or multiple assets in other forms.
They are designed to track the performance of a specific index, sector, commodity, or asset. This means that when you buy shares in an ETF, you are essentially buying a piece of a portfolio that represents a particular market index or sector.
Think of an ETF as a basket of fruits sold at a market. Each fruit in the basket represents a different company’s stock. When you buy the basket (the ETF), you’re buying a small piece of each fruit (each company’s stock) within it.
This allows you to own a variety of fruits (stocks) without having to buy each one individually. And just like how the price of the fruit basket depends on the prices of the individual fruits, the price of an ETF changes throughout the day based on the total value of the assets it holds.
The S&P 500
The most popular ETF is one you have probably heard of, it is the S&P 500. The S&P 500, or Standard & Poor’s 500, is a stock market index that tracks the performance of 500 of the largest publicly traded companies in the U.S. It is like investing in the biggest 500 companies at once.
However, note that they are different S&P 500 ETFs, but the most popular one is the Vanguard S&P 500 ETF and the ticker symbol for that is VOO. ETFs are just like individual stocks so they all also have ticker symbols.
Other ETFs
Similar to the S&P 500, there are different ETFs on Real Estate that track the real estate market and on physical commodities like Gold and Oil, as well as Crypto.
So you can invest in various things and various industries, all using ETFs, all on the Bamboo app. That’s why when people ask me about getting started in Investment, I tell them that the Bamboo app is all they need for real.
Diversification
This is also great because, every financial expert will tell you the importance of diversification, you should diversify your portfolio into different stocks and ETFs to help reduce risks and make your portfolio more stable.
Conclusion
So back on your homepage, you would find your investments, with two options, “US Stocks” and “Fixed Returns”. Fixed returns we would maybe talk about in another post but US Stocks is where we can click to see the list of your current investments and wishlists.
On the US stocks page, You will see a button called “breakdown”, tap here to see a full breakdown of your investments including charts, and other useful data. On this page, you would also see your Portfolio “Cost Basis” and “Current Value”.
Cost Basis is how much you invested and current value is how much you have right now.
So now you know how to buy stocks and how to track your investments.
If you want to learn more about investing, bamboo has a tab called “learn” specially dedicated to that.
If you want to stay ahead of the curve and make the right investments, there are tons of YouTube channels and Twitter profiles you can follow, but you can also join Bamboo’s Whatsapp channel to get the latest news and information on what’s happening to help you make better decisions, because like I said, Stocks are not entirely a gamble, they are affected by real-life choices, news and announcements, so being an investor in stocks means you have to follow the news and watch out for useful information.
That is all for today, if you have any questions, please let me know below.
If you invested ₦100,000 on the 1st of January 2024, in these options, how much would you have today, at the end of 12 months? (January – December, 2024)
⚠️*THIS IS NOT FINANCIAL ADVICE*⚠️
1. Left in a Nigerian savings account: ~₦90,000
2. Just converted to Dollars: ~₦136,844 ($83.19)
*Saving & Investments Apps*
3. Piggyvest (Quick Save): ~₦120,000 (*up to)
4. Piggyvest (Piggybank): ~₦114,000
5. Locked in Piggyvest (SafeLock): ~₦114,000- ₦120,000
6. Locked in Piggyvest (Target Savings/HouseMoney/Flex Naira): ~₦112,000
7. Added in Piggyvest (Flex Naira): ~₦112,000
8. Added in Piggyvest (Flex Dollar): ~₦146,402 ($89)
9. Cowrywise (Save by myself): ~₦114,000
10. Locked in Bamboo Fixed Investment (364 days): ~₦147,800 ($89.85)
11. Locked in Bamboo Treasury Bills (359 days): ~₦127,261.51
“~” means “Approximate”. The figures above are not accurate to the dot, it is just an estimate based on the information accessible, some other contexts and nuances can make your final value differ slightly.
2024 is gone and today is the first day of a brand new year, which means today is the beginning of another opportunity to take investing seriously.
Nvidia seems to be suffering from its own vast success as it’s senior engineers are cashing out their stock options and retiring.
Very much expected.
When Microsoft had their IPOs, they created three billionaires and about 12,000 millionaires.
It was crazy.
Technical writers suddenly saw stock options of over $3m .
Testers were seeing up to $4m and some of the engineers who would pass off as junior devs in 2024 were seeing as much as $10m .
Many of the senior staff and executives retired immediately to use their money to fund the wildest dreams and fantasies.
Some bought whole libraries. Some engineers bought guitars and went into music.
Some of them to buy golf courses and play golf all day or buy a baseball team.
A good number started their own companies. Docker, Kubernetes, Xiaomi, Tableau, DocuSign, etc where started by many of these new millionaires. Either they started or they were first angel investors.
But that one no be wahala. Of course that popularity drew more senior engineers from and other players willing to work.
It created more youngsters who had the dream of joining the company to do big things.
It’s normal, but replacements dey. Besides, retirement doesn’t stop them from being shareholders and they will always be involved in critical decisions making at production level or training new staff.
The same thing will happen, many of them will quit to start their own AI centered venture, or go into hardware (maybe wearables), others will invest in other startups.
Or… They might just go back to their family farms.
It is a common misconception that as a HND graduate/student, you are at a disadvantage academically, because preferences are given to BSc graduates both in terms of employment and scholarship opportunities. Well, this post will seek to demystify the misconception around the idea, talk more on fully funded opportunities for HND graduates and the process to get these opportunities, so it might be quite lengthy.
When it comes to fully funded educational opportunities, the USA is far ahead of every other country. The US boasts of over 5000+ institutions with fundings across departments, facilities and institutions that opens room for professors in these departments/faculties to recruit graduate students & research assistants to assist them achieve these research goals. Unlike the USA, Canada only boasts of 101 universities which means lesser fundings compared to their North American big brother.
How can HND graduates access these fundings?
1. Cold mailing professors has been the most effective method for accessing these fundings. This is usually done by sending email(s) to different professors in a specific research field where you have built a portfolio over years of work and volunteering experience stating your interests, experiences, awards, certifications related to the field of interest, publications and references all outlined in an academic CV and your unofficial academic transcripts. While this has been proven effective, it is usually encouraged to send to more professors to increase chances of being responded to, because in some cases, rejections could abound and discouragement could sent in.
2. WES (World Education Services) Evaluation, is a non-profit organization specializing in the evaluation of foreign educational credentials. Their primary function is to assess and verify academic credentials from individuals who have studied outside of the United States or Canada. WES evaluates transcripts, degrees, and other educational documents to determine their equivalence in the North American education system.
The WES Evaluation is offered in two types; Course-by-Course Evaluation and Document-by-Document Evaluation. The Course-by-Course Evaluation is usually done for educational and professional purposes which helps to eliminate unnecessary courses and grades, hence, boosting your CGPA which gives you a better chance at securing admission through conversion to a U.S. based CGPA grading scale. On the other hand, the Document-by-Document Evaluation is more basic and is suitable for general purposes like immigration or employment where a detailed course breakdown may not be necessary.
Below are the list of USA universities that require WES evaluated HND transcripts;
South Dakota University
St Cloud State University, Minnesota
University of Central Florida
University of Memphis
North Carolina A&T University
Georgia Southern University
California State University, Channel Island
Fairfield University, Connecticut
Chicago State University, Illinois
Florida A&M University
Florida Atlantic University
Middle Tennessee State University
New Mexico State University
Indiana State University
Northeastern Illinois University, Kentucky
San Diego State University, California
Minnesota State University, Mankato
St John’s University, Texas
Baylor University, Texas
George Mason University, Virginia
Marquette University
University of Arkansas, Little Rock
American University, Washington
Queens University of Charlotte
Iowa State University
East Carolina University
University of Incarnate Word, Texas
Missouri State University
University of Alabama, Tuscaloosa
Bentley University
Massachusetts College of Pharmacy
Oakland University, Michigan
Santa Clara University, California
Sam Houston University
Tennessee State University
University of Hartford
University of Louisville, Kentucky
University of Nevada, Las Vega
University of North Carolina, Greensboro
Roosevelt University, Chicago
Long Island University, New York
Texas A&M College Station, Texas
Eastern Illinois University, Charleston
University of Texas Rio Grande Valley
University of New Haven, Connecticut
Southern Illinois University, Edwardsville
Drexel University
Rutgers University
St John’s University, Queens New York.
List of Top Universities in the USA that accepts unofficial HND transcripts without WES evaluation:
The University Oklahoma
Illinois State University
University of Minnesota
University of Nebraska-Lincoln
Northern Illinois University
University of Connecticut
Purdue University
University of Arizona
University of Cincinnati
University of Nebraska- Omaha
University of South Florida
South Carolina University
Northern Arizona University
Kent State University
Miami University, Ohio
University of Vermont
University of Kansas
Kansas State University
As a HND graduate seeking fully funded opportunities abroad, these two methods are effective in securing graduate studies in the USA and Canada. It is also very important to check for the requirements of each department, faculty and university before proceeding with your applications to avoid time and resources wasting.
I am aware of the dichotomy between an HND and a Bachelor’s degree in some countries, including Nigeria. However, there are opportunities for HND holders to pursue scholarships in the US and Europe. Here are the steps to securing funded scholarships with an HND:
1. Search for Universities with your major across the globe: Begin your scholarship journey by researching universities worldwide that offer programs matching your field of study. Utilize various platforms, university websites, and scholarship databases (scholarshipscafe.com) to explore available options.
2. Contact the Universities and attach your credentials to evaluate eligibility for graduate admission: Reach out to the university graduate office you’re interested in and inquire about their admission criteria for graduate programs. Attach your academic credentials, including your Higher National Diploma (HND) transcripts and certificates, for an initial evaluation of eligibility.
3. Take WES evaluation if necessary: Some universities might require a World Education Services (WES) evaluation for international credentials. If necessary, complete the WES evaluation to provide standardized information about the equivalence of your educational qualifications.
4. Acquire the right expertise: Enhance your research skills or expertise in your field by pursuing additional certifications, short courses, or relevant workshops. This can strengthen your application and demonstrate your commitment to continuous learning and professional development.
5. Write a compelling CV detailing your Education, research experience, teaching experience (optional), volunteering, and leadership skills: Create a comprehensive curriculum vitae (CV) that highlights your educational background, any research projects or work experience, voluntary activities, and leadership roles. Tailor your CV to emphasize achievements and skills relevant to the scholarship and your chosen field of study.
5. Contact an advisor via cold email: Reach out to academic advisors or professors in your field of interest via email. Introduce yourself briefly, express your interest in their research or program, and inquire about any opportunities or guidance regarding scholarships for students with an HND.
6. Submit a competitive statement of purpose and references: Craft a well-written and compelling statement of purpose (SOP) detailing your academic journey, career goals, and reasons for pursuing further studies. Include strong references from mentors, professors, or employers who can vouch for your abilities and character.
7. Take standardized tests if applicable: Some scholarship programs or universities may require standardized tests like the GRE, GMAT, or language proficiency tests (such as TOEFL or IELTS). Prepare and take these tests as required by your target institutions.
8. Apply: Once you’ve completed all necessary preparations, submit your applications to the selected universities and scholarship programs within the specified deadlines. Ensure that all required documents and materials are included in your application package.
Positioning Yourself for Scholarships with a 2.2 or 3rd Class.
Don’t let your 2.2 or 3rd-class degree limit you. Here are some steps you can take to increase your chances:
1. Pursue a Postgraduate Diploma (PGD) or Master’s program in your home country. Many individuals with a 2.2 in their undergraduate degree have successfully completed a higher degree with good grades, leading to multiple scholarship opportunities abroad.
2. Enhance your research experience. Building a strong and substantial research portfolio can significantly enhance your scholarship prospects.
3. Consider taking standardized exams such as the GRE or GMAT. These exams can provide an additional measure of your academic abilities and may positively impact your scholarship applications.
4. Seek a professor’s acceptance. Some Principal Investigators (PIs) may be willing to overlook a lower CGPA if you possess relevant hands-on experience and secure a professor’s acceptance.
5. Publish a peer-reviewed paper or article. This could serve as a writing sample that justifies that you understand the rudiments of academic writing.
6. Be on the lookout for scholarships that would not put so much focus on CGPA. e.g SI scholarships, CSC (China), and the Australian Awards
$3000 monthly salary in Ekiti, Nigeria vs Ph.D. Scholarship in the US?
Family size: 5 Spouse cannot work in the US
Answer
PhD scholarship in the U.S.
What better way to set those three kids up for success than to give them a proper K-12 education in the U.S.?
We need to retire the mindset that “spouse cannot work” = “spouse is not contributing financially.” This is not true.
When a spouse is not working, s/he is typically spending that time on things that would have otherwise cost money eg child care (which is expensive), home-cooked meals (much cheaper AND healthier), home keeping, etc As such, the family still comes out ahead financially.
I would recommend strongly the PhD in the U.S.
The $3K job in Ekiti may not be there tomorrow, and the person will now be “too old” to do a PhD. Better to go for it now, and secure the future for themselves and their family.
No age is too old but if that person is struggling with the decision today, they will struggle even more in 5 years. So in this context, the sooner, the better. This is a decision that will get harder, not easier, to make. Better to make it now, than procrastinate.
