There is nothing hard as far as investment is concerned. Many people get confused once they get surplus money which needs to be invested, I was there too.
Personal finance is a topic which needs to be discussed in length, not just in towns but also in villages where people occasionally receive tea bonus or a boom from sales proceeds and exhaust the money within a short time without considering how to multiply it.
Few years ago, there was a lady who won Sh 5 million and a double cabin vehicle in a competition. I clearly remember how the lady was excited when she received the cash, flanked with her poor husband and family members.
Few days later, she chased her husband away after getting advice from family members. The poor lady ate all the Sh5 million in 2 years, she even sold the vehicle and spent the money on luxuries. Her painful story was highlighted on our dailies and got the attention of many Kenyans.
These cases are very common especially when an individual gets huge amount of money. The entire community will try to befriend you in order to get a share and once you exhaust the money, you see them disappearing one by one.
If you have Ksh 50,000,100,000,200,000,500,000 or 1, 000, 000, how will you invest the money?
1. Put in a fixed deposit account
If you find that you have say Ksh 1 million lump sum and you aren’t sure how to invest the money, you should first open a fixed deposit account and put all the money there as you think on the best business venture.
Fixed deposit account will enable you earn small interest as well as prevent you from careless spending.
2. Buy a piece of land
So many people are successful in Kenya because they made this decision. Buying a piece of land is the best decision you can make when you have some small amount to spend. The best thing with land is that it doesn’t depreciate. If today you buy a piece of land in Kajiado for Ksh50, 000, you are likely to sell it at Ksh 1 million in three years’ time.
3. Invest in government bonds
Kenyan government usually issue bonds to finance its projects. This is a golden opportunity to grasp and make a fortune out of it.
The advantage with bonds is that they the government cannot default.They also earn fixed interest rates.
More interesting is that the Kenyan government has started an arrangement where individuals will be buying bonds with as little as Ksh 3,000.
4. Start a business
There are businesses in Kenya which you can start with as little as Ksh 1,000.They easiest way to become rich is to venture into business, not seeking promotion at work.
If for instance you have Ksh 1 million, you can start a good fast food restaurant in Nairobi town Centre, where you will be assured of making at least Ksh 5,000 per day.
With Ksh 1 million, you can buy one matatu for business or a taxi.
With Ksh 500, 000, you can start a motorcycle spare parts business, which is booming.
With Ksh 200,000, you can start a nice salon in Nairobi, an executive Berber shop in Nairobi or a car wash in Nairobi
With Ksh 100, 000, you can start a small restaurant in Nakuru, Kisumu or Kisii.
With Ksh 1 million, you can start an electronics shop in Nairobi
5. Forex trading
Forex trading requires as little as Ksh100, 000.It is a lucrative business-ask the likes of Chris Kirubi.
As long as you understand how currency trading is conducted, you can never go wrong in this business.
Leave a Reply