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How to build Wealth in Kenya- Please share experience
Invepreneur
#1 Posted : Wednesday, January 30, 2019 4:06:04 PM
Rank: New-farer


Joined: 12/14/2015
Posts: 27
Was Just browsing around and realized I am at Stage 1 of wealth building as defined in this article -LINK

A long read

#copied


Stage 1 – POOR - this is where your annual expenses are equal your income

Stage 2 – COMFORT ZONE - this is where your annual expenses are lower than your income. As a result, you are running a surplus budget.

Stage 3 – PREPARATION - this is where you generate a surplus budget, and you have managed to dispose of all or almost all your bad debt

Stage 4 – ASSET BUILDING - Asset Building - this is where you have managed to use your surplus budget to buy assets that generate additional income over time

Stage 5 – FREEDOM - Stage Five - this is where you have acquired enough assets that they pay entirely for your expenses
The hot stock is the one that everyone thinks that everyone else thinks....is the hot stock (Dixit & Nalebuff, 2008).
Ebenyo
#2 Posted : Thursday, January 31, 2019 10:32:24 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,529
Location: Kitale
Invepreneur wrote:
Was Just browsing around and realized I am at Stage 1 of wealth building as defined in this article -LINK

A long read

#copied


Stage 1 – POOR - this is where your annual expenses are equal your income

Stage 2 – COMFORT ZONE - this is where your annual expenses are lower than your income. As a result, you are running a surplus budget.

Stage 3 – PREPARATION - this is where you generate a surplus budget, and you have managed to dispose of all or almost all your bad debt

Stage 4 – ASSET BUILDING - Asset Building - this is where you have managed to use your surplus budget to buy assets that generate additional income over time

Stage 5 – FREEDOM - Stage Five - this is where you have acquired enough assets that they pay entirely for your expenses




All these steps are possible through descipline,determination and hardwork.Its not easy,it requires a real commitment.
Towards the goal of financial freedom
Angelica _ann
#3 Posted : Thursday, January 31, 2019 10:36:15 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,241
Supply county government with anything, anything my fren!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#4 Posted : Thursday, January 31, 2019 10:43:34 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,346
Location: NAIROBI
Invepreneur wrote:
Was Just browsing around and realized I am at Stage 1 of wealth building as defined in this article -LINK

A long read

#copied


Stage 1 – POOR - this is where your annual expenses are equal your income

Stage 2 – COMFORT ZONE - this is where your annual expenses are lower than your income. As a result, you are running a surplus budget.

Stage 3 – PREPARATION - this is where you generate a surplus budget, and you have managed to dispose of all or almost all your bad debt

Stage 4 – ASSET BUILDING - Asset Building - this is where you have managed to use your surplus budget to buy assets that generate additional income over time

Stage 5 – FREEDOM - Stage Five - this is where you have acquired enough assets that they pay entirely for your expenses


Excellent article
Mbarire_2019
#5 Posted : Sunday, February 03, 2019 4:51:55 PM
Rank: New-farer


Joined: 1/27/2019
Posts: 55
Location: Nbo
Ericsson wrote:
Invepreneur wrote:
Was Just browsing around and realized I am at Stage 1 of wealth building as defined in this article -LINK

A long read

#copied


Stage 1 – POOR - this is where your annual expenses are equal your income

Stage 2 – COMFORT ZONE - this is where your annual expenses are lower than your income. As a result, you are running a surplus budget.

Stage 3 – PREPARATION - this is where you generate a surplus budget, and you have managed to dispose of all or almost all your bad debt

Stage 4 – ASSET BUILDING - Asset Building - this is where you have managed to use your surplus budget to buy assets that generate additional income over time

Stage 5 – FREEDOM - Stage Five - this is where you have acquired enough assets that they pay entirely for your expenses


Excellent article

Hii STAGE 5 naiombea Sana niifike
Swenani
#6 Posted : Monday, February 04, 2019 12:07:29 PM
Rank: User


Joined: 8/15/2013
Posts: 12,962
Location: Vacuum
Mbarire_2019 wrote:
Ericsson wrote:
Invepreneur wrote:
Was Just browsing around and realized I am at Stage 1 of wealth building as defined in this article -LINK

A long read

#copied


Stage 1 – POOR - this is where your annual expenses are equal your income

Stage 2 – COMFORT ZONE - this is where your annual expenses are lower than your income. As a result, you are running a surplus budget.

Stage 3 – PREPARATION - this is where you generate a surplus budget, and you have managed to dispose of all or almost all your bad debt

Stage 4 – ASSET BUILDING - Asset Building - this is where you have managed to use your surplus budget to buy assets that generate additional income over time

Stage 5 – FREEDOM - Stage Five - this is where you have acquired enough assets that they pay entirely for your expenses


Excellent article

Hii STAGE 5 naiombea Sana niifike


You could be there but unaware
Poverty is the root of all evil
Mucher
#7 Posted : Wednesday, February 13, 2019 2:58:47 PM
Rank: New-farer


Joined: 1/15/2019
Posts: 16
I find this article very useful, as it summarizes nicely steps for reaching final goal and that is financial independence called freedom. It is really great feeling when you manage to build and diversify your finances in a manner to cover all your expenses. It takes time, but I think is reachable
nashx
#8 Posted : Friday, February 15, 2019 3:21:54 PM
Rank: Member


Joined: 2/28/2014
Posts: 175
Location: Nairobi
See my personal finance lessons providing a Kenyan context on how to build wealth. The first 4 lessons are ready and cover how to invest in Money Market Funds in Kenya

https://nashthuo.com/money-market-funds-kenya/
Offering my personal finance knowledge for free
kayhara
#9 Posted : Friday, February 15, 2019 4:12:28 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 971
I think I am at stage -1 where my income is several times less than my monthly obligations, balancing act but short lived I hope, being at step one in kenya is a big achievement at the moment
To Each His Own
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