Where Do You Keep Your Money?

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As unimportant as this question seems it has the ability to make you remain in your current financial state or put you on a pathway to wealth forever. A lot of answers can be given in response to this question, lets analyze some below;

1.   The Bank: In contemporary times banks have become the safest place to keep money. People argue that it’s safer than keeping money in a house as it is not subject to theft or fire incidence. While this argument for is true it brings little reward for the depositor. This is because the interest rate for banking your money is very little. From the general theory of wealth creation money should not be left fallow so growth should be a watchword for every intending investor.

2.    Osusu/Cooperatives: This practice is quite common amongst the low to middle class income earners. They contribute an agreed amount of money per month for a particular period usually a year and later distribute it amongst themselves. Sometimes a member with an emergency could borrow money but usually with little interest. The downside to keeping your money this way is there is no real wealth creation with this method. It’s just a subtle way to save money for a later date and most times mismanagement, death or theft is usually a major challenge with osusu/cooperative.

3.     Stock/Shares: A stock is a type of security that signifies ownership in a corporation and represents a claim on part of the corporation’s assets and earnings. While this trend seems to be gaining much grounds in recent times the major challenge with this method of keeping your money is its high volatility. It’s seemingly rewarding experience can be erased in just one day, a good example is the Flash Crash of 6^th May 2010 in the New York Stock Exchange when One trillion dollars was erased in just 20 minutes. Real time market are vulnerable to sudden unexpected shocks hence there is need to seek a much safer place to keep your money.

4.  Real Estate: This option gives you the opportunity of purchasing a future income stream from properties. In an environment where market volatility is an issue, the more stable return of real estate is attractive. It hedges you against inflation due to its positive relationship with GDP growth. As demand for real estate increases it drives rents higher which in turn translates into higher capital value. It is a permanent investment that cannot be used up nor destroyed therefore there is ownership retention except it is sold.

Bridgeport Properties offers you a chance to keep your money in just the right place. We offer safety, rewarding returns, comfort, luxury and affordability. Invest today in our properties for as low as 7 million naira and enter the pathway of wealth today.

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