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<p>Crypto has gone from soaring to the moon to crashing to the earth. Crypto enthusiasts have been beaten down into silence. All the “buy crypto” chants on social media have come to a halt. Why? Because the average crypto buyer is losing money.</p>



<p>Crypto winter is here.</p>



<p>The question on everybody’s mind is, will crypto ever recover to the highs we saw in 2021, and if yes, when?</p>



<p>Probably not. At least, not anytime soon.</p>



<p>Before we go any further, it’s worth saying that no one can reliably predict how crypto prices will move. If anyone could do it, they would be living on a remote island enjoying their billions, not writing this article.&nbsp;</p>



<p>Always take predictions with a pinch of salt, and don’t let predictions be the sole reason you buy or sell (or not buy or sell) crypto because that could end in tears. So, rather than make predictions, we’ll help you understand why we think crypto is unlikely to recover soon in this article. Let’s dig in.</p>



<p>To understand why crypto is unlikely to recover, we need to understand how we got here.</p>



<p>Before now, crypto enthusiasts would parrot statements like “crypto is a good hedge for inflation” and “crypto’s performance is unrelated to the stock market.” But since November 2021, we’ve seen crypto crash with the stock market, even worse than stocks.</p>



<p>The first thing we’ve learned from this crypto crash is that crypto is not a hedge for inflation and is not uncorrelated to the stock market. The main driver of crypto’s performance was (of course, hype but also) excess money that flooded global financial markets.</p>



<h2>Free Money</h2>



<p>Since the 2008 Global Financial crisis, Central Banks in developed nations have been printing trillions of their currency and injecting it into financial markets; this process is called quantitative easing.&nbsp;&nbsp;</p>



<p>They also cut interest rates to very low levels. Some cut interest rates to 0%, others to even negative numbers, which meant you could pay back less than what you borrowed. Central Banks did all of this to stimulate growth in their economy.&nbsp;</p>



<p>They hoped this money would go to entrepreneurs looking to start businesses that would produce valuable goods and services, which would create jobs, increase Gross Domestic Product (GDP), and ultimately economic prosperity.</p>



<p>While some of this money flowed as the Banks intended, some flowed into the financial markets to invest in assets like stocks, real estate, and eventually crypto as it got more hype.</p>



<h3>COVID</h3>



<p>When COVID struck, it looked like the global economy would suffer again as it did during the 2008 Financial Crisis. Central Banks again stepped in and reduced interest rates, and the US Federal Reserve introduced over $5 Trillion into the US economy as stimulus.</p>



<p>Cryptocurrencies flew to the moon.</p>



<p>As more money came into the system, more people bought crypto. As more people bought crypto, prices soared. As prices soared, those on the sidelines got more FOMO, and those on the rocket kept shoving it down their throats. So more people got off the sidelines, increasing the number of people buying crypto.</p>



<h2>Then came high inflation</h2>



<p>Money is an accounting system for the goods and services in an economy. For example, if all the money in Nigeria today is $1 billion, then the goods and services can be said to be worth that amount. If the Central Bank doubles the money from $1bn to $2bn overnight, then the price of goods has to roughly double to account for the extra money created.</p>



<p>Central Banks introduced all that money into their economies to cause some inflation, but they didn’t hope for inflation to soar to the uncontrollable levels we can see today.</p>



<p>In June 2021, the Central Bank dismissed inflation as transitory when the US saw inflation figures of over 5%. But by November 2021, it became clear that the high inflation numbers the US recorded were not transitory. They had to stop printing money and start pulling money out of the system.</p>



<p>When it became clear that Central Banks would start pulling money out of the financial markets, asset prices began to tumble. Investors started selling down their assets. We heard stories of <a href="https://www.cnbc.com/2021/12/29/elon-musk-sells-another-1-billion-in-tesla-shares-nearing-10percent-target.html">Elon Musk</a> and <a href="https://www.forbes.com/sites/kerryadolan/2021/11/04/jeff-bezos-just-sold-2-billion-worth-of-amazon-stock/?sh=600f015773e1">Jeff Bezos</a> selling some Tesla and Amazon shares.</p>



<p>Some investors took this as a cue to sell down their crypto positions. This led to the initial decline in crypto prices between November 2021 and May 2021.</p>



<h2>Stablecoins Collapse</h2>



<p>In May, one of the most popular stablecoins, Terra (UST), collapsed from $1 to less than 2 cents.</p>



<p>Stablecoins are cryptocurrencies that have their value backed by other assets like gold, the US Dollar, and other cryptocurrencies. As the name implies, they try to maintain a stable value. They play a key intermediary role between hard currencies like the US dollar and Naira and cryptocurrencies like Bitcoin and Ethereum.</p>



<p>Using hard currency to buy crypto can be difficult for traders because settlement is slow, and the price of currencies such as Bitcoin can change significantly. To avoid this, traders use hard currencies to buy stablecoins, which are accepted on many crypto exchanges. These stablecoins allow traders to trade volatile digital assets quicker.</p>



<p>Terra collapsed in May, which caused cryptocurrencies like Bitcoin and Ethereum to fall another 30%.</p>



<h2>Celsius and Crypto Lenders Bankruptcy</h2>



<p>We can look at how deposit banks lend to understand how crypto lending works. Depositors (in this case, crypto owners) deposit their crypto with the lending platform, and those platforms lend the crypto out to borrowers in exchange for some interest. The crypto lender collects the interest and shares some of it with depositors.</p>



<p>Unlike traditional deposit banks, crypto lending platforms offer higher interest of 10-15% on the crypto that depositors leave with them. Because crypto lenders cannot reasonably charge crypto borrowers 15-20% (so they have enough to pay depositors and make profits), these crypto lending platforms also venture into riskier activities like trading crypto, crypto futures, and investing in new DeFi projects.</p>



<p>This was great for all involved when crypto was going to the moon, but now that it&#8217;s crashing back to earth, it made it more difficult for crypto lending platforms like Celsius to pay interest to depositors and even return their initial capital because it&#8217;s locked up in investments that have dropped significantly in value.</p>



<p>Since then, large crypto lenders like Celsius and Voyager Digital have filed for US bankruptcy. It remains unclear what will happen to depositors’ funds when they are declared bankrupt.</p>



<h2>Some Investors are Still Confident</h2>



<p>You might be wondering, why are some investors still confident if things are that bad for crypto?</p>



<p>Crypto winter is here, but early investors are still doing great.</p>



<p>To the person who bought Bitcoin last November at around $66,000 and lost almost 70% of their investment, Bitcoin is doing awful. But, anyone who bought bitcoin at around $5,000 in March 2020 or earlier is still sitting on 3x profit after two years of holding. Early adopters are sitting on significantly more profit.</p>



<p>While the average investor&#8217;s crypto account is bleeding, early adopters are still in the green.&nbsp;</p>



<p>When listening to views on crypto&#8217;s future price, it&#8217;s important to consider when the person bought it. Are they early investors looking to offload their holdings, or are they late investors desperately seeking one last pump so they can sell out, or are they genuine enthusiasts?</p>



<h2>Conclusion</h2>



<p>It&#8217;s easy to believe in a vision when the going is good and everyone is going to the moon. It&#8217;s more difficult to believe when the rocket has burst into flames and is crashing to earth.</p>



<p>Cryptocurrency is different from most assets because it&#8217;s very speculative. Unlike stocks, there’s no clear way to determine the inherent value of a cryptocurrency. Cryptocurrencies are also really young.&nbsp;</p>



<p>Bitcoin started trading in 2009. It doesn&#8217;t have a long track record. That makes it tough to say how crypto will handle this downturn, especially if the entire market continues to drop.</p>



<p>That said, many individual cryptocurrencies have faced extreme volatility in the past and managed to survive. For instance, Bitcoin has lost over 80% of its value on multiple occasions, yet it&#8217;s experienced positive average returns over time. Also, in 2018, Ethereum&#8217;s price fell by nearly 95%, yet it still rebounded.</p>



<p>While we think crypto may not recover anytime soon, from its history, some coins have recovered from worse. If you’re looking for something less speculative, start a <a href="https://risevest.com/">plan</a>&nbsp; with us today.</p>


Will Crypto Ever Recover


<p>Many many years ago, humans invested in gold and lands and livestock. We understood the need to keep money for the future, in hopes of having them double or triple in value. However, with technology and time, investing has evolved to what we have now: stocks, real estate, bonds, crypto and so much more.</p>



<p>Many of our parents and the parents before them never got around to investing for many reasons, ranging from lack of money to not having an idea how investing works.</p>



<p>Today, investing has become a wave, which is great as more people&nbsp; will grow and protect their wealth.</p>



<p>However, we’ve also found that many are going about investing the wrong way, and we would like to address some of these mistakes so that, hopefully, you correct them before they derail your investment journey. So without further ado, here are five ways you might be doing your investing wrong.&nbsp;</p>



<h2><strong>1</strong>, <strong>Having a lottery mindset</strong></h2>



<p>A lottery mindset is putting in a small amount but expecting a big payout in a short time. Many people go into investing with this mindset, which is why they fall for <a href="https://risevest.com/blog/ponzi-scheme-in-nigeria-robbing-peter-to-pay-paul">Ponzi schemes</a>, give up on investing too quickly or are disappointed by actual investing results. Investing is not a way to “blow” overnight. It is a disciplined way of securing your financial future and achieving your financial goals by purchasing and owning assets that will gain value over time. It is not a way to get rich quickly.&nbsp;</p>



<h2><strong>2</strong>, <strong>Trying to trade stocks or forex by yourself.</strong></h2>



<p>These days, a lot of platforms allow you to trade by yourself, which may seem easy; all you need to do is find your favourite companies and then buy or sell their stock. But look at the numbers: you pay a fee when you buy, andyou pay another fee when you sell. You typically don&#8217;t make enough returns to cover both expenses and still make money. A lot of times, you lose money, and still pay those fees. You also don&#8217;t invest based on what delivers the best returns, but based on what is popular or in the news. And rather than stick to your investments, you sell at the first hint of bad news. That is a terrible way to build long-term wealth.&nbsp;</p>



<h2><strong>3,You do not use Risevest</strong></h2>



<p>Yes, that’s right. We know. Hear us out: on <a href="https://risevest.com/">risevest</a>, you have not only stocks but our rental properties and fixed income assets providing strong diversification even in down times. And all the work is handled by experts who track all the support and share updates with you, so you don&#8217;t have to do any of it yourself. All your investments and returns are in dollars, so you have excellent protection from inflation and devaluation. And finally, risevest charges you only 0.5% in management fees to invest in high-quality assets and manage your money for you. So if you are currently not using risevest, you need to ask yourself why.</p>



<h2><strong>4</strong>,<strong>You invest funds that you need within a few months</strong> </h2>



<p>Some people&nbsp; treat their investment accounts like they treat their bank accounts: they deposit today, and withdraw tomorrow. Or next week. Or next month, which is a wrong way to invest. Only invest money you do not need in the short term. Investing is like planting a seed. If you are a farmer, will you uproot the seeds you plant every few weeks because you are hungry? And if you do, will you get a great harvest? No. Investing takes at least a year to show results and around three to five years to see compound growth. So if you need money you can withdraw from time to time, create a short-term plan, and leave it in your wallet or emergency fund. Don&#8217;t invest it and then break it within a short period. You won’t get good results that way.</p>



<h2><strong>5</strong>, <strong>Last but not least, you like to follow the crowd</strong></h2>



<p><em>Anywhere belle face</em> is not an investment strategy. “This is where it&#8217;s happening”&nbsp; is not good investment advice. Stop chasing what is hot, what is cool or where everyone else is investing, and find the right place and thing to invest in. If you need to check where everyone is investing to know where to invest, you probably should not be doing your investing by yourself. It might be true that there is safety in numbers, but it’s important to have a mindset of your own and also do thorough research before you invest . Invest in things you understand that are resilient and will perform well over time. Your investment journey is not a popularity contest. &nbsp;</p>



<p>So that’s it. Till next time, keep funding your Rise plans. And if you are yet to get on the Rise wave, visit our <a href="https://app.risevest.com/login">website</a> to sign up or download Risevest from the app or play store.</p>


Five Ways You Are Probably Doing Investing Wrong


<p>On this week’s MoneyRise User Story, we spoke to Courage, a Medical Imaging Scientist who decided to leave his comfort zone to start a side business for the first time in his life. He talks about his love for his profession, how he got scammed when he invested in forex, and his new <a href="https://twitter.com/phil_mccourage/status/1560172113763438594?s=46&amp;t=BMBwiMFKAYltLuJQNW5cMw">poultry</a> business, which is now thriving. Read on to know his story.</p>



<h2><strong>Hi, can you tell us about yourself?</strong></h2>



<p>I&#8217;m Courage Smart, a Medical Imaging Scientist. I work with some hospitals here in Lagos. Before I started my poultry business, I had worked only in the corporate field all my life. I&#8217;ve been in the medical profession for about eight years now.</p>



<h2><strong>What was growing up like?</strong></h2>



<p>Growing up was fantastic. I grew up in a medical background; my dad was never really around as he was always on trips, so I was always with my mom, a local pharmacist. It was pretty much going to church and helping in the business, which was also where I learned hospitality. I got interested in helping people. I loved the relief I saw on people’s faces after I assisted them with their medical conditions, giving them drugs that aided in their recovery from any ailment they suffered. Their gratitude when they got better was the thing that drew me to the medical field.</p>



<h2><strong>You had an interesting childhood. Did that influence your career choice?</strong></h2>



<p>Yes, yes. My childhood majorly influenced what I do today. I got into the family business at about 7, was often left at the pharmacy each time my mom went to the market to restock, and had drugs all around me with price tags on them to make them easier to recognise and sell. There were no phones at the time, unlike there are now. You couldn’t call to find out how much drugs cost, so there was no communication. There had to be a placeholder to help sell or prescribe when someone came in to buy. I just needed to search for the drugs, find them with their price tags, and sell them. At an early age, everyone called me a small doctor, which shaped my path.</p>



<h2><strong>Small doctor! I like that. Talk to us about being a medical professional and what the medical field is like</strong></h2>



<p>I’m naturally an empath. Often, when a patient visits the hospital, I feel what they feel, and the first question that comes to mind is the best possible way I can assist them or the best thing I can do. Hence, I chose diagnostics, which involves finding out what problem someone is experiencing. Most people would go straight into symptoms. However, there are symptoms, and there are diseases. Someone may have severe malaria or typhoid, and when the person tells a doctor that they have severe pains in their stomach, they prescribe drugs. But what they’ve treated is the symptoms. Those symptoms are there to tell you something is wrong; it’s a part of a larger problem. This was why I decided to go into diagnostics, specifically Medical Imaging, to carry out x-rays, ultrasounds, CT scans, MRI, and other body checks to image the body and differentiate the normal from the abnormal, and use the abnormal to give a diagnosis. I’m just interested in discovering the root of a patient’s health issue. That was what drew me into Diagnostics.</p>



<h2><strong>What are your favourite things about what you do now? What are your challenges?</strong></h2>



<p>One of my favourite things about what I do is being able to help. I’ve been at my current place of work for about two years, and during my first few months here, the hospital assigned me to about eight women with fertility issues who wanted to get pregnant. After some scans and a procedure called HSG, four took in immediately and gave birth; the others are currently pregnant and may give birth in the last quarter of the year. Most of the time, when these women take in and come back to the hospital, I run their scans and antenatal throughout their pregnancy, and when they finally give birth, I feel fulfilled. When they come for immunisation and vaccination of their newborns, they come to see me. They say, “Hey, Dr. Courage, come and see your child,” which gives me so much joy. The experience is exciting and worth it. Some days, you wake up tired and don’t feel like working, but then you remember the journey and how you are trying to do your little part of giving back to the community. It’s worth it. Then sometimes, as someone flexible — I’m not a black or white person as I believe in the grey area between black and white — when I talk to some patients, I try to talk to their minds. I bypass them and their experiences and speak to their mind. I counsel them and try to get them to see a lot of things in a positive light. Once the patient can key into the fact that it is not the end of the world for them and that they can get better, regardless of the doctor’s recommended treatment method, they already have a positive mindset and believe they can get better. It’s a joy for me to see their change in outlook on life; they come in with negative energy but leave smiling and hopeful. Although it can be draining, I enjoy this part of my work.</p>



<p>One of the challenges I face as a medical doctor in Nigeria is the flawed healthcare system. It is <em>every man for himself. </em>Getting equipment, drugs, and all the materials needed for healthcare is complicated as they don’t come subsidised. Patients come in to seek health services, but there are shortages of doctors. There’s also the case of poor health insurance, which not many hospitals offer. Even the National Health Insurance Scheme (NHIS) doesn’t give anything. You’re looking at an investigation that should roughly cost about 5,000 naira, and NHIS will be offering to pay you 500 naira, which doesn’t even cover the raw materials you need to provide the services or doctor going to run the test. It doesn’t even start. So you see many establishments rejecting NHIS. The people who work in government and use NHIS as their main insurance scheme find that even when they come to the hospital, they are told to keep it aside. People are forced to go to expensive establishments that provide good healthcare services.</p>



<h2><strong>What is your relationship with money?</strong></h2>



<p>My relationship with money has been toxic. It’s a love-hate kind of situation. It’s as though once money comes in, there’s always something waiting to take up that money. Or you find that you don’t even know what you used it for. M I Abaga sang, “Money slow to enter, money quick to go” Sometime early this year, I did a personal financial audit on myself, and I found out that within a year, I received money that ran into millions. You’d expect I’d have a stash stored somewhere, despite spending on necessities. However, that wasn’t the case. I began asking myself, “how did you use all this money?” “What have you been doing with the money?” The only money I had at the time that I could say I had somewhere was in Risevest, as I had invested $1,000 sometime in July last year. At the time, the dollar was about 480 naira. That was it; that was the only money I had set aside. I’m someone who solves any issue that comes up at home for my family. I don’t think twice about it. What it does to me is that I never run out of money. So my money habit is like the rolling stone that gathers no moss.</p>



<h2><strong>Does your profession affect how you relate with money?</strong></h2>



<p>Not really. I don&#8217;t think what I do affects how I relate to money. I&#8217;m not the person who puts so much value on money; I place more importance on people and experiences. To me, experiences are like currency. This is why I can travel by road to a place as long as the roads are free and not plagued by bandits and kidnappers, rather than travel by air. It&#8217;s all about the journey and not the destination. Everything to me is an experience. I see life as a story; everything you experience from conception is a preface: pregnancy, labour, and time are a book&#8217;s preface. The cover of the book bears your name. The doctors make up the acknowledgments, and the experiences you have from the moment you start walking are just pages between the book&#8217;s cover and the epilogue. So every single day in my life, I get excited about the experiences that await me that day. As much as money is a catalyst to give you more experiences, I don&#8217;t attach so much value to it. That is why I&#8217;m just the way I am. People hoard money as much as they can, but I seek the experiences I can get, which have nothing to do with my job. My hands are also very open; if I can give, I give.</p>



<h2><strong>How long have you been on Rise and how has your experience been?</strong></h2>



<p>I downloaded Rise in 2020 but never really used it, as I didn’t understand how it works. I also didn’t have enough money at that time in my life to put aside. I was barely earning and still trying to find my footing. So I just had the app there until last year when I was ready to use it. I decided to take out some of the money I had been saving in my naira account and transfer it to Rise, where I couldn’t easily access it. I didn’t want a situation where I would withdraw the money whenever I wanted to, thereby squandering it. That was how my journey started, and it’s been amazing. I like when I get updates about dollar rates going up, my investment returns, or when I earn commissions from referrals. I was at the MoneyRise conference early this year, where I had the opportunity to meet many speakers and learn many things. One of my favourite things about Rise is the weekly roundup. I enjoy watching the videos, updating us about what’s going on in the market and with the Rise portfolio.</p>



<h2><strong>We see you started a poultry farm with your Rise investment proceeds. Can you tell us about it?</strong></h2>



<figure class="wp-block-image"><img src="https://lh3.googleusercontent.com/Nv-PVxvDFCFKJwxCB3VfW5lM_ruujdQqlD3-YIh7S_pdvtwnAX5qbTd3Mq8RxjKyeP7ZNoxUHgNkRv7stwIkTPo1RgxISy0cCrgXqsx-wCzH_6eS2peQAZMljEZoavH36LwjvfMTAue6-GI-zkWpssTesDhUoG3Fg4wWj2JHkiA_9yBBPrLbhmRtcg" alt=""/></figure>



<p>Yes, that&#8217;s right. Before now, I was not someone who wanted to do business, even though I had had a couple of business opportunities. I&#8217;ve always had this fear of starting a business. Although I have no attachments to money, it&#8217;s ironic how the thought of losing money in a business frightens me. I had an experience in July 2019 that affected me. I got into forex, took a loan from someone to add to the 350,000 naira I had, which was quite huge at the time, and started trading. However, things went wrong. It was a scam, so I lost the whole money. It was such a dark time, and it took a toll on me, causing me to lose my bearing. The experience rubbed off on my plans to start a business, so I was sceptical about it. However, between March and July, there was a spike in the dollar rate, and I also kept getting returns on my Rise investment. When I started investing, the dollar was still about 480 naira; around July, it had gotten close to 700 naira. So I comfortably made about 300 naira on each dollar I had based on the exchange rate.</p>



<p>I pulled out about 350,000 naira, which didn&#8217;t affect my initial deposit. I added to some spare cash I had and decided to start a poultry business in the east and handed it over to a relative who runs the business&#8217;s day-to-day activities. He ensures that the chickens are well fed. Sometime last month, I travelled to check on them, and that was when I made that video I posted on Twitter. Knowing that I have set up something, keeping my relatives busy, and having something happening somewhere is nice. It is just about the experience for me. Fortunately, it&#8217;s been going well. I first started with 100 broiler birds; out of them, I only lost one. The rest have grown so big. Although I&#8217;m yet to break even because I built a small house for them, paid for logistics, and spent some amount purchasing them, and the amount I pay to the person running the business, I&#8217;m hopeful I&#8217;ll recoup the money soon. I&#8217;ve sold some of the birds at higher prices ranging from 4,000 to 5,000 naira. And I have recycled the cash to get younger set birds. This will continue till I balance out the money I started with and begin to generate money I can set aside. It&#8217;s just like turning over the profit I make; after each cycle, I churn over a certain amount of money, put some aside and reinvest the remaining part. The first target is to get back your initial investment before you begin to expand.</p>



<h2><strong>Where do you see this poultry business in five years?</strong></h2>



<p>For me, it’s supposed to be a fun project. The first place we used when I started this business was not conducive and spacious enough for the birds. It was like a trial run; we wanted to see how it would turn out. But after seeing that it was sustainable, I realised that we needed a new and bigger place. It was supposed to be just for meat. However, I’m thinking of including layers for egg production. With time and rate of expansion, I’m thinking of going into fishing farming too. So I’m just testing the waters; put in one leg, if it’s good, I dip in the other one and probably even throw my entire body in. I think that in five years, I’d have added eggs and fish farming. That’s the vision for me.</p>



<h2><strong>What are your thoughts on investing?</strong></h2>



<p>Considering my first experience with investing, which turned sour, and now finding a good place to invest, I’d say people should know what they want and the level of risk they can afford to take. So depending on your risk level, you can decide to start a little and watch what happens, just like I did with my poultry business. Put the money you can afford to lose. It’s also essential to invest money you will not need in a long time, not one you will need soon. As a single person, it’s also a great time to comfortably take some risks as you have no kids or significant responsibilities. When it pays up, you’ll be glad you took that risk. However, if it doesn’t, you learn your lessons, pick up from the pieces and start over again. Investment is generally about taking risks, albeit calculated ones. If you find a suitable investment, don’t overthink it, and begin. It’s all a leap of faith; take it. It may turn out well or not. That’s all I have to say about investing.</p>



<h2><strong>What advice do you have for people looking to start a poultry business just like you?&nbsp;</strong></h2>



<p>Firstly, location matters. When starting a poultry business, it is crucial to consider the distance of the market from the poultry farm. Often, customers want to come around and take a look at the birds before they buy, so the farm should be easily accessible. You also have to think about human resources. Who will take care of the poultry and ensure its maintenance? You need someone capable that you can trust to handle the business for you if you don&#8217;t plan to do it yourself. It&#8217;s also paramount to consider the structure&#8217;s capacity you&#8217;re erecting. It has to take in the number of birds you want it to after they&#8217;ve grown. You don&#8217;t measure structure by how many birds it can take in when they are still little. When they grow bigger, it becomes a war for the survival of the fittest, and the structure becomes too small for them to move around freely. You also have to research the poultry farming you want to venture into. It could be poultry for meat or egg production, so choose which one works for you. You can settle for day-old chicks, a high-risk-high reward investment as they could die in droves. You can do month-old chicks to test the waters.&nbsp;</p>



<p>Also, when doing your research, key in the type of feed for your choice of chicks. Different feeds, different chicks. You need to consider your capacity and how much risk you&#8217;re willing to take. I went cold turkey, not knowing all of these, but I was lucky enough to have a helper who did all the research and work.</p>



<p>Finally, it is necessary to have a business plan and personal projection that covers how much you expect at the end of the first farm cycle, how long it will take to break even on your investment, and your expansion within a certain period.</p>



<p>You, too, can be like Courage and invest towards starting a business or reaching your other goals on <a href="https://risevest.com/">Rise</a>.</p>



<p>Thank you so much for doing this with us, Courage. It was nice talking to you.&nbsp;</p>


“Put In One Leg, If It’s Good, Dip In The Other One And Probably Even Throw The Entire Body In.” My Name Is Courage, And This Is How I Make My #MoneyRise


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<p>We know we’ve not seen you in a while because you’ve not seen money in a while; inflation is eating all of it. The price of everything is soaring everywhere, all at once.&nbsp;</p>



<p>Every week, we write to you about how costs have risen. A few weeks ago, it was about the cost of a pot of jollof; last week, it was the value of ₦73,000 in 2014 versus now. The rising cost of living has everyone by the neck. What can you do to relieve the pressure?</p>



<p>There are two main ways to survive rising inflation</p>



<ol><li>Earn more</li><li>Spend less</li></ol>



<p>As easy as it may sound, it’s not. If it were, everyone would be doing it. Let’s break it down further.</p>



<h2>How can you earn more?</h2>



<p>At the start of 2022, we shared <a href="https://risevest.com/blog/7-ways-you-can-make-money-in-2022">7 ways to make money</a>. These ways include&nbsp;</p>



<ol><li>Making money from solving problems around you: Money is a reward for solving problems and creating value. If you can find a big enough problem around you that you can solve, you just might get someone to pay you to solve it. An example is providing a solution to slow online transactions, or solving the problems associated with delivery.&nbsp;</li><li>Teach something you’re an expert at: The popular saying “those who can’t do, teach” no longer applies in 2022. The new saying should be, “Those who can do, should also teach, making money from both.” What would you say is your most marketable skill? Could be anything from writing to cooking. You can make some money from teaching people how to do it as well as you do.</li><li>Sell your skills directly on and offline: If you don’t have the teaching bug, you can stick to doing and even take your <em>doings </em>online if you haven’t already. Learn about <a href="https://risevest.com/blog/how-to-make-money-online-in-nigeria">8 ways you can make money online here</a>.</li><li>Learn a new skill and move into a different profession: You can also learn a skill you need to pivot into a higher-paying profession. While you can learn almost everything for free at the prestigious University of YouTube, you might also need to pay for a course or direct coaching. Consider it an investment in yourself. You sometimes need to spend money to earn money. Before you begin, it is paramount to do your research to know if it’s worth it.</li><li>Stay in the same profession and switch to a higher-paying company: If you’re already in your dream profession, you can consider moving into a higher-paying company or role. Can you expand your responsibility and earn more money with your current employer or elsewhere? If yes, then do it.</li><li>Be a part of the sharing economy: Share something you own for a fee. This can be your car with Uber or your living space on Airbnb. Join <a href="https://risevest.com/blog/my-name-is-chinedu-and-this-is-how-i-make-my-moneyrise">Chinedu in making money from the sharing economy</a>.</li><li>Negotiate a higher salary or more benefits: We know, the economy is choking everybody, even your employer. Though it might be tough, it’s worth the try. Here’s a step-by-step process on <a href="https://risevest.com/blog/how-to-negotiate-a-higher-salary">how you can negotiate a higher salary</a>.</li></ol>



<p>These seven ways we’ve listed above can help you earn more, but that might not happen immediately. So while you work towards earning more, what can you do to reduce your spending?</p>



<h2>How to spend less</h2>



<p>The first step is to get a budget and stick to it. We know, not the B-word again. Budgets are so hard to make and stick with. Don’t worry; we made a sure guide on <a href="https://risevest.com/blog/how-to-make-a-budget-youll-actually-use">how to make a budget you’ll actually use</a> just for you. For those with a family to take care of, we also have <a href="https://risevest.com/blog/family-budget-why-you-need-one">something to help you with family budgeting</a>.</p>



<p>Now that you have your budget, what’s next? You’re probably already doing this obvious one: cutting back on non-essential spending. Nigerians are great at slowly downgrading things from necessities to luxuries. Find the little things here and there you can cut back on.</p>



<p>Can you buy the same thing for cheaper? A consistent little ₦100 difference when added up can make&nbsp; something huge. Remember, little drops make an ocean. If you haven’t already, compare prices between your regular shopping spot and other places. Can you get things cheaper elsewhere?</p>



<h2>Bulk buying discounts&nbsp;</h2>



<p>Can you form a group with some friends to get a discount on essentials if your order is large enough? Who knows, there are probably cooperatives already doing this around you, but you’ve not heard about them because you haven’t asked. Ask around and see.</p>



<p>The inflation problem is oppressing everyone, everywhere, all at once. However, we hope that these tips we’ve provided can help you fight it.. We also hope to see you not just survive this inflation situation but thrive so we can keep helping you smash your long-term investment goals.</p>


Tips To Survive Rising Inflation

Good Investments For Beginners: All You Need To Know


<p>Meet <em>Nduka</em>. Nduka is the unluckiest investor. Each time he invests in anything, it crashes.</p>



<p>He started with a popular agro investment that offered juicy returns. When it was time for the company to pay back his capital and investment returns, they began telling stories. It’s been a few years now, and he still hasn’t received a dime from that investment.</p>



<p>Next, he heard stocks were better because they were public and couldn’t run with your money. So he bought Gamestop because “if everyone was talking about it, it had to be good, right?”. He also heard it would run up to $1000, and at the time, it traded at $400. That&#8217;s easy money for Nduka. He’d even recover the money he had lost with the agro company .</p>



<p>The price crashed after he had bought it and it never recovered. He later found out it was something called a meme stock. He concluded, “Okay, I’ll avoid meme stocks then”. He then moved to Apple, Amazon and many others. Same story: each time, the price crashed after his buy order completed and never recovered.</p>



<p>After burning his hands with stocks, he decided to follow the popular advice he kept getting, “buy crypto”. He found the courage to invest in Bitcoin on his birthday, November 8<sup>th</sup> 2021. Just after he bought it, the crypto market started dipping, affecting the price of Bitcoin. It’s been 10 months now, and it hasn&#8217;t&nbsp; recovered.</p>



<p>The most annoying part is that whenever he ignores things going to the moon, they keep rising. But the moment he puts his money in, the thing crashes. He is undeniably an unlucky investor. What can Nduka do to improve his luck with investing?</p>



<h2>Investment tips for investors like Nduka</h2>



<h3>Invest in things you understand and are confident in</h3>



<p>Start with your choices;don’t&nbsp; invest in something because it’s popular or going to the moon. That’s one of the quickest ways to lose money.&nbsp;</p>



<p>It is critical to look into the choices you make and why you make them. Ask questions, carry out thorough research, and spend some time understanding the risks of anything you want to invest in. If the investment requires you to act fast without thinking, then that opportunity is probably not for you. There will be many opportunities to make money. Look for the ones you understand and are comfortable with.</p>



<h3>Think long term</h3>



<p>Look for long term investments you are confident about. In the short term, anything can happen to your investment. The market could crash completely due to something you could have never predicted, like COVID. If you’re confident in something for the long term, then you’ll have no problem waiting through market crashes.</p>



<h3>Wait it out</h3>



<p>Wait out the dip. And if you feel confident enough to do so, buy the dip. For stock investments, doing something called “dollar cost averaging” will reduce your average cost per share and increase your profit when the stock eventually recovers.&nbsp;</p>



<h3>Look for investments with strong decent track record</h3>



<p>While young investments offer the opportunity for higher returns, they also have the highest risk of loss. Transparent investments with a good track record of steadily delivering value for investors are the way to go for someone with “bad luck”.</p>



<p>Investments with a decent track record give you the confidence to invest for the long term and wait through market crashes.</p>



<h3>Avoid meme stocks</h3>



<p>People with ‘bad luck’ rarely get lucky with meme stocks. This is because they usually hear about those stocks just before they peak. This leaves them holding the empty bag and losing most, if not all, of their money. Avoid meme stocks. They’re not for you.</p>



<p>If you must tempt fate, only invest money that you can comfortably throw in the nearest dustbin. Read more about meme stocks that are bad for you here.</p>



<h3>Diversify</h3>



<p>If all your money is tied up in one investment and the company behind that investment fails, you might lose all your money. But if you spread your money across different investments, you reduce your risk of loss. Although this reduces the money you can make, you’d be much better off doing this.</p>



<h3>Don’t do it alone</h3>



<p>You don’t have to make all the decisions on your own. Consider getting an experienced financial adviser. Consider platforms like Rise that help users manage their money.</p>



<h3>Finally, no one gets it right all the time.</h3>



<p>The best investors get it right 51% of the time. You’re not unlucky because you didn’t get it right away; most people don’t get it right. Keep learning from your mistakes and improving your finances. Personal finance is a learning and earning cycle. The more you know, the more you can earn.</p>



<p>“Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending” – Carl Bard. Start today to change your luck. Good luck!</p>


Investment Tips For People with “Bad Luck”


<p>Not every nanny is lucky to have an employer as good as Lola. So on this episode of our MoneyRise User Story, we spoke to Lola of Abuja, who introduced her kids’ nanny to Risevest, and ever since, has helped her grow her money in dollars. Lola talks about becoming a lawyer as well as an entrepreneur, founding a shoe business– <a href="https://www.instagram.com/theshoeshopnig/">The Shoe Shop</a>. Her difficulty accessing dollars, finding Rise and even tagging her kids’ nanny along in her financial journey, using Rise. This is her story.</p>



<h2><strong>Tell us about yourself</strong></h2>



<p>My name is Lola, and I’m an entrepreneur. I sell shoes, but I’m also a lawyer and a mum. I live in Abuja, Nigeria.</p>



<h2><strong>What was childhood like for you?</strong></h2>



<p>I wasn’t exactly excited about growing up. But in retrospect, I see that my childhood was great. My parents were really kind and loving. They loved each other, so watching them love each other really shaped me. I grew up in an atmosphere of love, and that really built a lot of confidence in me. I owe all the confidence I have to my parents; they spoke it into me and convinced me that I was the best. I was the deal. I could do whatever I wanted to do, and be whoever I wanted to be. It was great.</p>



<h2><strong>You have a shoe business. Can you tell us about it?</strong></h2>



<p>I sell shoes. I’ve been selling shoes since 2013. As soon as I finished law school, I started my business which is called The Shoe Shop. We import them from the US and the UK, so my business relies heavily on the US dollar. It’s always been the US dollars. It’s been very rewarding to the extent that when I started the business, not a lot of people were doing it on Instagram at the time. That helped us to grow fast and well. Now, we ship shoes all over Nigeria. We have free nationwide delivery, so we are able to send shoes to every part of the country. Every state in Nigeria. People jump in for shipping and shoes are great, although not very affordable anymore due to the dollar-naira issues. And I’m happier. I feel like starting my own business after law school was one of the best things I have ever done. It has helped to define my path as a business person. It helped me to realise that&nbsp; longterm, I’m not interested in becoming a fancy or big-name lawyer like my dad who is a senior advocate.It’s the highest echelon of what lawyers can be in Nigeria. And because I’m his first child, and also a lawyer, people thought or maybe, I thought that at some point in my life, I’d want to follow in his footsteps. However, starting my business and watching it grow and work out for me made me realise that there’s a different path outside there and that it was probably for me. With my success in my business, I have been able to convert my parents into entrepreneurs as well. Shortly after my business started doing well, they also wanted to get into business, so they started an event centre. I was able to help them take over the business and manage it and turn it into money. People now see my family and I as business people.&nbsp;</p>



<h2><strong>That is impressive! So what was the inspiration behind it and how’s it going?</strong></h2>



<p>At the time I started my business, it was honestly from a place of need. I needed shoes. I lived in England for about four years where I studied. When I was there, buying shoes was a common thing for me. I could just decide that I wanted a pair of shoes, and I would get them easily online or in a store. The shoes were usually nice, trendy and new. When I moved back to Nigeria in 2012, I started law school. In that one year of being in law school, I didn’t buy any shoes. I wore some of the shoes I brought from England. Towards the end of law school, I realised that I needed shoes for other things. I tried to buy them in Nigeria only to realise that it wasn’t as easy as it was for me when I was in England. There was not just one website where I could just go and see shoes. That was the first problem. I also couldn’t walk into a store, and it’d just be shoes. All the stores that had shoes had them as an afterthought. Their major business was clothes, accessories and maybe, some bags. For all the places I saw, shoes, for them, were an afterthought. I knew that wasn’t going to work for me as a shoe lover. Many of those places that I found that sold shoes, didn’t have great ones. There were only a few, hence, not many options. They were also not very nice-looking; they looked like they’ve been in the store for a long time. Some of them looked so old and ugly, like shoes from back in the day. There was nothing trendy. I could see really nice and trendy shoes on Instagram, but not in real life, in Abuja. Interestingly, as old and ugly as they were, they were still quite expensive. It wasn’t adding up. I realised that if I was having that problem, a lot of people were probably having the same problem. That was when I decided to start my business. My focus was just shoes so that any woman who thinks, “oh, I need shoes”, she’d know my store is the place to go to. That’s the inspiration behind my business, and it’s going well.</p>



<h2><strong>Were there any challenges you faced when you started your business? Are there any you face now?</strong></h2>



<p>When I tried to start the business, my biggest challenge was my parents. They didn’t support what I was doing. They felt like they had invested so much in me, sending me to England to study law, so why would I want to sell shoes? It didn’t make any sense to them, so they were not having it. I mean, I don’t blame them; they were just trying to protect me, their investment. It was quite a struggle then. I understood their point of view, and we came to some sort of compromise where I said “You know what? You have a very large building for your offices, why don’t you give me a small room there that I’d double as both my law office and shoe shop?” So we came to an agreement where they said I should practise law for five years, and if I didn’t like it, I could venture into the business I wanted. But then I said if I was going to practise law for five years, I still couldn’t abandon my business, so I sold shoes from home for about two years. Then after that, I asked if my parents could give me some space in their office, so I wouldn’t be shuffling between home and office to make deliveries. They agreed to that and gave me a space that became my first shop. That was my biggest problem at first; my parents weren’t very supportive. But we are good now, they are now my biggest supporters – as well as my husband, Ayo.&nbsp;</p>



<p>Currently, my biggest problem is getting access to dollars. We need dollars. We buy the shoes in dollars. Accessing dollars is getting harder and harder every single day. We were using Barter card from Flutterwave, but they recently just announced this past month that they were shutting down their services. So getting dollars is such a struggle. I’ve considered the possibility of manufacturing, but it doesn’t make much sense manufacturing in Nigeria with the current power and diesel situations, especially if we’re still going to be importing materials. So if we’re talking about current challenges, it’s definitely accessing the dollar. The dollar doesn’t just affect me in my buying of shoes, it also affects my customers indirectly. Their purchasing power is reducing because everything is imported, and the dollar-naira exchange rate is a joke. My customers don’t have the same purchasing power as they did before. Their salaries are not increasing to match the prices of the shoes or anything that they are buying. People who think they are rich are kind of getting poorer. As long as you’re not earning in USD, you’re poor. That’s just the truth. This is one of the reasons I really appreciate Risevest because right now, it’s my only source of USD income. I’m looking for ways to earn money in dollars, but at the moment, Risevest is my only source: $3 today, $5 tomorrow, $30 from my referral, $20, $11 make a whole lot of difference.</p>



<h2><strong>You have a Youtube channel, can you tell us about it? How do you also manage everything you do?</strong></h2>



<p>To be honest, I don’t quite manage anything; I just take everything as it comes. I haven’t posted anything on the Youtube channel since I posted about Risevest, which was in March. I have just been tired. I created it mostly because I get a lot of questions about business, and I don’t like answering them one by one in the DMs. So I created the channel to direct them to my channel where similar questions have been asked and answered. But I haven’t added anything new in a couple of months.</p>



<h2><strong>That often happens, even to the best of us. So let’s talk about money. What’s your relationship with money?</strong></h2>



<p>Right now, my relationship with money is still growing because once in a while, I tend to splurge on expensive designer bags, which is currently my biggest challenge. If there were no expensive designer bags in the world, I’d have a lot more money in my account. I’d have had a lot more money invested. I find that the bags just keep calling me, I want them in different colours and shapes. That’s my biggest challenge with money. However, my biggest strength is that I know how to give it. I like that I’m not so stuck up on money that I can’t give it. I’m constantly giving. And because I’m a christian, one thing I have always wanted to do is that I wanted to be someone who finances kingdom work and evangelism. Recently, I found out that I’ve become a kingdom financier, and that’s one part of my relationship with money that makes me very happy. I know that I can take some of the money I’d have used on a bag and give it to a ministry, a missionwork or a cause. That’s basically my relationship with money – constantly evolving. One thing I love about it is that there’s a paper trail; I don’t just wake up at the end of the month with no idea where my money went. I know exactly, because I track it. At the end of the month, I see all the things I spend my money on. I like that I have a tracking method that helps to keep me in check.</p>



<h2><strong>How did you start investing?</strong></h2>



<p>After I read the book, The Smart Money Woman by Arese Ugwu, I realised that putting my money in a savings account was the stupidest thing I could be doing. It wasn’t the best use of my money, and I learned that I could actually make my money work for me. So I started investing. I think the things that really spoke to me were the concepts of putting my money to work, and that having my money in naira was me incurring constant loss on whatever amount of money I had. Like, no matter how much I have, as long as it is in naira, I’m just going to keep taking hits without even knowing it. Learning about making my money working for me led me to mutual funds. I first started with Stanbic IBTC mutual funds where I invested my money. It was as the dollar-naira power tussle started that I realised that it wasn’t a good idea to continue keeping my money there. I also think it was around that time that I must have seen a tweet about Rise. I downloaded the app, but like a lot of people, I didn’t do anything about it. I didn’t sign up or activate my account till about a year after. That was when I started using Risevest.</p>



<h2><strong>How did your journey with Rise start?</strong></h2>



<p>Like I mentioned before, I must have found Rise for the first time on Twitter. I think I must have seen somebody tweet about it. It sounded nice to me, so I downloaded the app, but never used it. A year later, I got a small loan from CBN for my business. When I got that loan, I thought it’d be wise to remove the profits I had made in the past couple of years, keep them aside and work with just the CBN money as my capital. If I needed more money, I’d inject. But I also knew it’d be stupid of me to keep the money in naira because when I need to buy more shoes, I’d need it in dollars. I decided to keep the money in Risevest. At the time, the Fixed Income plan was called Eurobonds, so I put it there because it was low risk and the returns were guaranteed. I locked it away for 12 months because I didn’t need the money. After investing the money, I deleted the app. I’m the kind of person that doesn’t like checking their finance apps every day to see if I’m losing or gaining money. I also didn’t want to be tempted to break my investment, so I deleted it. A year later, two things happened: I made 10% of my Fixed Income investment as guaranteed by Risevest. But something better happened which was that the naira had fallen. It had gone from about 400 naira/$1 to about 500 naira/$1. I not only made money off my investment returns, I also made money off the difference in the exchange rate in just&nbsp; a one year timeframe. That made me realise that Risevest was for me. Until I found something that offers better, it is my last bus stop.</p>



<h2><strong>We’re clearly doing the Lord’s work! So what plans do you have on Rise?</strong></h2>



<p>Personally, I have 3 plans: one for myself, my kids’ nanny and my eldest daughter. I’m trying to gather some money for my daughter’s future education, but I’ve not been very consistent with that. I’ve just been sending all the money to my plan. I feel like I need to find a way to structure my money better in such a way that I can say this percentage is for my daughter’s education, and this one&#8217;s for me. Then I did something: at the beginning of the year or at the end of last year,, I moved some of my money from Fixed Income to Stocks, and I wish I didn’t do that because I realised that I’m not that kind of investor. I do not have that high risk appetite to watch my money go up and down. I only want it to go in one direction, no matter how slow it is.</p>



<h2><strong>Nanny? Tell us about it.</strong></h2>



<p>Yes, I introduced my kids’ nanny to Rise. I was so happy with my experience&nbsp; that I started telling everyone about it. I told my parents and brothers. I told everyone on my Youtube channel. I told my friends on Instagram and even tweeted about it a couple of times. I also told my staff, including my kids’ nanny. I told her because she used to give me part of her salary every month to help her keep. But since I don’t save my money in naira, I suggested putting it in Rise which at that time, she didn’t understand, but agreed to. She just trusted me, knowing I won’t run away with her money. I did the 3 months maturity plan for her because I feared she might need the money, unlike me. I reinvest it every 3 months, if she doesn’tneed it. So after about a year, which was just a few months ago, I told her how much she had made and she was so shocked. She didn’t expect the money to grow so much as it did. But because we weren’t saving in naira, it grew both based on the investment returns and the exchange rate difference. We were also saving every month; 10k naira here, 15k naira there. I also encouraged her to start an online side hustle she could operate from Instagram, aside from just caring for my kids, which she did. So she has also been sending the profits from there to her Rise account. She usually sends it to my Wema bank, which I help her pay into her Rise account and invest in her plan.</p>



<h2><strong>God, when? So what are your thoughts on investing?</strong></h2>



<p>After I put some money in stocks, I realised it wasn’t for me. My money has been on a downward trend. It’s always been red. But I had to do that to decide that it wasn’t for me. I have tried both low risk and medium risk investments on Rise (Fixed Income and Real Estate) and both worked for me. However, it wasn’t the case with stocks. I’ve concluded that it isn’t the kind of investment for me. I like safe, slow and steady. I like predictability. I want to have an idea of what it’s going to look like in a year or years. So it’s important for investors to know their risk appetite before they decide to invest. </p>



<p><strong>Thank you so much, Lola, for doing this with us. It was fun.</strong></p>


“My Kids’ Nanny Didn’t Expect The Money To Grow As Much As It Did.” My Name Is Lola, And This Is How I Make My #MoneyRise.


<p>Do you want to learn how to earn money in dollars? Many people dream of making money in a foreign currency, and the United States dollar is a popular choice. </p>



<p>In this blog post, we will explore why it is wise to earn in dollars and 10 different ways that you can do so from Nigeria.&nbsp;</p>



<p>We hope that this information will help guide you on your journey to financial success.</p>



<p>The United States Dollar (USD) is the most popular currency in the world, and it is used in many different countries. When you earn money in dollars, you can be sure that your earnings will have a global reach. Additionally, the dollar is a stable currency, so you can be confident that your earnings will not fluctuate wildly.</p>



<p>There are many reasons why you might want to earn money in dollars from Nigeria. Perhaps, you have family members who live in the United States and you want to send them money. Or&nbsp; you may be planning to travel to the United States and need to save up some cash. Whatever your reason, we are here to help!</p>



<h2><strong>10 popular ways that you can start earning money in dollars from Nigeria</strong></h2>



<p>How to earn money in dollars from Nigeria? Here are 10 popular ways that you can start:</p>



<ol><li>Start a blog and sell advertising space.</li><li>Create an online course and sell it to people in the United States.</li><li>Become an affiliate for a company that sells products in dollars.</li><li>Do some freelance work for clients in the United States.</li><li>Sell handmade crafts or goods online to buyers in the United States.</li><li>Launch an e-commerce store that sells products in dollars.</li><li>Participate in online surveys and receive payments in dollars.</li><li>Complete short tasks or micro jobs online and get paid in dollars.</li></ol>



<p>.</p>



<ol start="9"><li>Invest in US assets</li></ol>



<p>Let&#8217;s take a look at each of them</p>



<ol><li><strong>Start a blog and sell advertising space.</strong></li></ol>



<p>If you’re looking for how to earn money in dollars, you may want to consider starting a blog. <a href="https://ng.oberlo.com/blog/blogging-statistics">Blogging</a> is beneficial to writers and business owners who have online presence as it is one of the most popular and effective<a href="https://ng.oberlo.com/blog/online-marketing-strategies-ecommerce"> ecommerce marketing strategies</a></p>



<p>There are a few different ways to start a blog and sell advertising space. One way is to create a blog through a website like Blogger or WordPress. These websites provide templates and hosting for your blog, and they also take care of the advertising for you.</p>



<p>Another way to start a blog is to purchase your own <a href="https://www.hostinger.com/tutorials/what-is-a-domain-name">domain name</a> and hosting. This will give you more control over your blog, but you&#8217;ll need to set up the advertising yourself. Finally, you could use a social media platform like Facebook or Twitter to create a blog. These platforms don&#8217;t provide hosting or templates, but they do make it easy to share your content with others.</p>



<p>No matter which method you choose, there are a few things you&#8217;ll need to do in order to start selling advertising space on your blog. The first step is to develop an advertising policy. This document will outline the rules and regulations for advertising on your blog. It should include information on how ads will be displayed, what kind of ads are allowed, and how often ads will be rotated.</p>



<p>The second step is to create an advertising kit. This kit should include information about your blog, such as its demographics and audience size, as well as information about the advertisers who have partnered with you. It&#8217;s also important to include pricing information and a copy of your advertising policy.</p>



<p>The third step is to reach out to potential advertisers. Let them know about the benefits of advertising on your blog, and send them copies of your advertising policy and advertising kit. Be sure to follow up with them after they&#8217;ve had a chance to review the information, and work with them to create an ad that meets their needs and fits within the guidelines of your policy.</p>



<p>You can also apply for Google <a href="https://www.google.com/adsense/start/">adsense</a> on your blog. To apply for Google Adsense, you will need a Google account. If you don’t have one, you can create one for free <a href="http://www.google.com">here</a> . Once you have a Google account, you can apply for Adsense at www.google.com/adsense.</p>



<p>To apply for Adsense, you will need to provide some information about your website, such as the URL and the language it is written in. You will also need to provide some information about yourself, such as your name and contact information.</p>



<p>Once you have submitted your application, it will be reviewed by Google. If your website meets the requirements for participation in the Adsense program, your application will be approved and you will start displaying ads on your website.</p>



<p>There are a few ways that you can earn from Google Adsense on your blog.</p>



<p>The first way is to simply add the Adsense code to your blog and let Google place ads on your site.</p>



<p>The second way is to use Adsense for search, which allows you to place search boxes on your site and earn money from the ads that are displayed when people use your search engine.</p>



<p>The third way is to use Adsense for content, which allows you to place targeted ads on your site.</p>



<p><strong>2. Create an online course and sell it to people in the United States.</strong></p>



<p>If you&#8217;re looking to create an online course and sell it to people in the United States, there are a few things you need to know. First, you&#8217;ll need to determine what the course will cover. Once you&#8217;ve nailed down the content, you&#8217;ll need to create a course outline and develop a curriculum. Next, you&#8217;ll need to create some promotional materials, such as a course description and pricing information. Finally, you&#8217;ll need to set up a payment processing system and start selling your courses!</p>



<p>Follow these simple steps to start your online course:</p>



<p>1. Choose a topic for your course.&nbsp;</p>



<p>2. Create a course outline.&nbsp;</p>



<p>3. Record your lectures or create video content.&nbsp;</p>



<p>4. Upload your content to a learning management system (LMS).&nbsp;</p>



<p>5. Market your course to potential learners.</p>



<p>There are a variety of platforms to sell your online course. Some popular platforms include <a href="https://www.udemy.com/">Udemy</a>, <a href="https://www.coursera.org/">Coursera</a>, and <a href="https://teachable.com/">Teachable</a>. These platforms allow you to create a course and sell it to learners around the world. They also provide tools to help you market and promote your course.</p>



<p><strong>3. Become an affiliate for a company that sells products in dollars.</strong></p>



<p>Another tip on how to earn money in dollars is by becoming an <a href="https://www.investopedia.com/terms/a/affiliate-marketing.asp">affiliate marketer</a>.. Affiliate marketing is a process where a company rewards its affiliates for each customer that they refer to the company. The affiliate can be an individual or a company that promotes the company&#8217;s products or services. When someone clicks on the affiliate&#8217;s link and makes a purchase, the affiliate is then paid a commission by the company.</p>



<p>If you want to become an affiliate for a company that sells products in dollars, you&#8217;ll need to sign up for their affiliate program. Once you&#8217;re signed up, you&#8217;ll receive a unique URL that you can use to promote the company&#8217;s products. When someone clicks on your link and makes a purchase, you&#8217;ll earn a commission on the sale.</p>



<p><strong>4. Do some freelance work for clients in the United States.</strong></p>



<p>Freelancing is a term used for professionals who are self-employed and work on a project-by-project basis. This type of work arrangement is often appealing to freelancers because it offers more freedom and flexibility than traditional employment. Freelancers can usually choose the projects they want to work on and set their own hours.</p>



<p>Some freelancing platforms include <a href="https://www.upwork.com/">UpWork</a>, <a href="https://www.fiverr.com/">Fiverr</a>, and <a href="https://www.peopleperhour.com/">PeoplePerHour</a>.</p>



<p>There are a few important things you need to do in order to start freelancing.</p>



<p>First, you&#8217;ll need to create a portfolio of your work. This can be a website, or a simple PDF or Word document. In your portfolio, include examples of your best work, as well as a brief description of each project.</p>



<p>Finally, you&#8217;ll need to start marketing yourself. Start by creating a list of potential clients and sending them your portfolio. You can also post about your services on online forums and social media platforms.</p>



<p>Next, you&#8217;ll need to set up a payment system. There are a number of ways to do this, but the most common is through PayPal or Stripe.</p>



<p><strong>5. Sell handmade crafts or goods online to buyers in the United States.</strong></p>



<p>If you are interested in selling your handmade crafts or goods online to buyers in the United States, there are a few things you need to know. First, you will need to create an online shop or store.</p>



<p>There are a number of platforms that you can use for this, such as Shopify, Etsy, and eBay. Next, you will need to photograph your products and create product descriptions.</p>



<p>Be sure to highlight the unique features of your products and explain why someone should buy them.</p>



<p>Finally, you will need to set prices that are fair and competitive. You may want to experiment with different prices to see what works best for you.</p>



<p><strong>6. Launch an ecommerce store that sells products in dollars.</strong></p>



<p>Another tip on how to earn money in dollars is by owning an ecommerce store that sells products in dollars. Follow these 5 steps to start one:</p>



<p>a. Choose a Platform</p>



<p>The first step in launching an ecommerce store is choosing the platform on which to build it. There are a variety of options, but Shopify and WooCommerce are two of the most popular. They both have extensive feature sets, are easy to use, and have large ecosystems of themes and plugins that can be used to extend their functionality.</p>



<p>b. Set Up Your Store</p>



<p>Once you&#8217;ve chosen a platform, you need to set up your store. This includes creating your account, setting up your store&#8217;s settings, and adding your products. The process is relatively straightforward andShopify and WooCommerce both have comprehensive documentation that can help guide you through the process.</p>



<p>c. Choose a Domain Name and Hosting</p>



<p>Next, you&#8217;ll need to choose a domain name for your store and purchase hosting. This can be done through a variety of providers such as GoDaddy or Bluehost. Be sure to choose a domain name that is relevant to your business and easy to remember.</p>



<p>d. Setup Your Payment Processor</p>



<p>In order to accept payments, you&#8217;ll need to set up a payment processor. There are a variety of options available, but PayPal and Stripe are two of the most popular. They both have extensive integrations with a variety of platforms and are easy to use.</p>



<p>e. Create Marketing Materials</p>



<p>Finally, you&#8217;ll need to create marketing materials for your store such as a logo, website banner, and product images. These can be created using design software such as Adobe Photoshop or Illustrator. Be sure to create high-quality images that accurately represent your products.</p>



<p><strong>7. Participate in online surveys and receive payments in dollars.</strong></p>



<p>There are many survey companies that will pay you in dollars for your participation. To find these companies, do a simple internet search for &#8220;paid online surveys.&#8221; A few of the more reputable companies include:</p>



<p>Survey Junkie, Swagbucks, and Inbox Dollars</p>



<p>You can sign up to these companies and start taking surveys right away. Most of these companies will send you surveys on a regular basis, and you will be notified when a new survey is available. Once you have completed the survey, the company will pay you in dollars via PayPal or by mailing you a check.</p>



<p>There are a few key things to remember when participating in online surveys in order to receive payments.</p>



<p>First, it is important to find reputable survey companies in order to ensure that payments are made as promised.</p>



<p>Second, always read the terms and conditions of a survey before participating, as some may have restrictions on who can qualify for payment or how much can be earned.</p>



<p>Finally, make sure to provide accurate information when signing up for surveys, as this will help ensure that payments are made accurately.</p>



<p><strong>8. Complete short tasks or micro jobs online and get paid in dollars.</strong></p>



<p>There are a number of websites that allow you to complete short tasks (microjobs) in order to earn money. These sites include:</p>



<p>Fiverr: This site allows you to offer your services for a fee of $5 or more. Services offered on Fiverr can include anything from writing a review to creating a logo.</p>



<p>CrowdFlower: CrowdFlower is a site that allows you to complete small tasks, such as identifying objects in photos or transcribing short audio clips, in order to earn money.&nbsp;</p>



<p>Amazon Mechanical Turk: This is a site that allows you to complete small tasks, known as “HITs” (Human Intelligence Tasks), for money. HITs can include things like identifying objects in photos or writing short reviews.</p>



<p>To start earning money through these sites, simply create an account and start browsing the available tasks. When you find a task that you want to complete, read the instructions thoroughly and then follow the steps to submit your finished work. Be sure to submit high-quality work in order to receive positive reviews and more work opportunities.</p>



<p><strong>10.Invest in US assets</strong></p>



<p>Diversification is a key financial strategy in growing wealth and reaching your financial goals. You can achieve this by diving into the global market and owning shares of companies abroad, particularly the US.&nbsp;</p>



<p>As an investor, investing your money outside of your home country helps to hedge your portfolio against various risks.&nbsp;</p>



<p>There are a few reasons you may want to invest in US assets, and we’ve written everything you need to know in this <a href="https://risevest.com/blog/how-to-invest-in-foreign-stocks">article</a>.</p>



<p>You can easily gain footing in the global market using <a href="https://risevest.com/">Risevest</a>, a dollar-investment company that gives you access to a portfolio of 30 high-growth <a href="https://risevest.com/stocks">stocks</a> and <a href="https://risevest.com/real-estate">real estate</a> across the US market.</p>



<p>We hope that these 10 ideas have inspired you to start earning money in dollars from Nigeria.</p>


How To Earn Money In Dollars In 2022.


<p>If you&#8217;re looking for how to invest in foreign stocks, there are a few things you need to know. In this blog post, we&#8217;ll discuss the basics of investing in foreign stocks and provide some tips on how to get started.</p>



<p>We&#8217;ll also take a look at some of the benefits of investing in foreign stocks and talk about some of the risks associated with this type of investment.</p>



<p>So if you&#8217;re thinking about expanding your portfolio into foreign markets, read on for more information.</p>



<h2><strong>What are Stocks?</strong></h2>



<p><a href="https://www.investopedia.com/terms/s/stock.asp">Stocks</a> are a type of security that allows stockholders to have a share or ownership in a company. Stocks are also called equities. When you own stocks as an investor, you gain through capital appreciation which happens when the stock prices go up.</p>



<h2><strong>Why and how to invest in foreign stocks.</strong></h2>



<p>There are a few key reasons why investors might want to consider adding foreign stocks to their portfolios. One reason is that foreign stocks can offer opportunities for diversification. By investing in companies based in different countries, investors can help reduce the overall risk of their portfolios.</p>



<p>Another reason to invest in foreign stocks is that they may offer higher potential returns than domestic stocks.</p>



<p>Additionally, investing in foreign stocks can also provide opportunities for capital growth and income generation, as many of these stocks pay dividends.</p>



<p>Finally, investing in foreign stocks can give investors exposure to new markets and industries that they would not otherwise have access to. This can provide opportunities for growth and portfolio diversification.</p>



<h2><strong>Why do people invest more in the US stock market?</strong></h2>



<p>There are a number of reasons why investors may want to consider adding foreign stocks to their portfolios, particularly US foreign stocks.. One reason is that these stocks can offer investors exposure to different economies and growth opportunities around the world.</p>



<p>Additionally, by investing in foreign companies that are doing business in the United States, investors can benefit from the stability of the US economy and markets. These companies may be less risky than those located in developing countries like Nigeria.</p>



<p>The US economy and markets are considered to be more stable than most other countries. This is largely due to the size and strength of the US economy, as well as the depth and breadth of the US markets.</p>



<p>Also, the US government and financial system are considered to be more reliable and stable than those of other countries.</p>



<p>However, there are some risks that could cause a downturn. For example, the <a href="https://www.bbc.com/news/business-45899310">trade war</a> with China could hurt the economy, and rising interest rates could cause a stock market crash.</p>



<h2><strong>Being mindful of international trade wars before investing</strong></h2>



<p>The trade war with China is an ongoing<a href="https://en.wikipedia.org/wiki/Economic_conflict"> economic conflict</a> between China and the US which could hurt the US economy in a number of ways. One way is that it could lead to a slowdown in economic growth.</p>



<p>This could happen because the <a href="https://www.investopedia.com/news/what-are-tariffs-and-how-do-they-affect-you/">tariffs</a> that are being imposed by the US and China will lead to higher prices for consumers and businesses in both countries. This will reduce demand, which will lead to a slowdown in economic growth.</p>



<p>Another way the trade war with China could hurt the US economy is by causing job losses. This could happen because the tariffs will lead to a decline in exports, which will lead to fewer jobs in the export-related industries.</p>



<p>It could also lead to job losses in the industries that import goods from China, as these industries will have to pay more for the goods they import.</p>



<p>Now, let&#8217;s talk about some of the ways rising interest rates could affect the US stock market. It&#8217;s better to be aware of this before making your decision to invest in foreign stocks.</p>



<h2><strong>9 ways the rising interest rates could cause a US stock market to crash</strong></h2>



<p>What are <a href="https://www.investopedia.com/terms/i/interestrate.asp">interest rates</a>? They are the amount a lender charges a borrower, often a percentage of the initial amount. When there’s a rise in these rates, it could cause the US stock market. Here are ways that can happen:</p>



<p>1. As interest rates rise, it becomes more expensive for companies to borrow money. This could lead to a slowdown in economic growth and a decline in stock prices.</p>



<p>2. Higher interest rates could cause investors to shift their money out of stocks and into safer investments like bonds, which may lead to a decline in the stock market.</p>



<p>3. They could also cause the value of the dollar to increase relative to other currencies,&nbsp; leading to a decline in exports and a slowdown in the economy.</p>



<p>4. Higher interest rates may also lead to a housing market crash, which can cause a recession and a decline in stock prices.</p>



<p>5. They can lead to defaults on corporate debt and mortgage loans, causing a financial crisis and a decline in stock prices.</p>



<p>6. Higher interest rates could lead to higher inflation rates, and cause the Federal Reserve to raise interest rates even further, leading to a stock market crash.</p>



<p>7. Higher interest rates sometimes lead to a credit crunch,&nbsp; which makes it difficult for businesses and consumers to get loans,&nbsp; leading to a recession and a stock market crash.</p>



<p>8. Higher interest rates could lead to less spending by consumers and businesses,&nbsp; reducing economic growth and causing stock prices to decline.</p>



<p>9. Rising interest rates can also make it more difficult for people and businesses to afford large purchases like cars and homes. In many cases, this could cause a slowdown in the economy and a decline in stock prices.</p>



<p>But not to worry, look at the bright side, knowing how to invest in foreign stocks, particularly in the US, offers you more reward in the long run.</p>



<h2><strong>What you get by investing in the US stocks</strong></h2>



<p>1. Diversification: Investing in US stocks allows you to spread your risk across a number of different companies and industries. This can help protect your portfolio against market volatility.</p>



<p>2. Liquidity: US stocks are highly liquid, meaning they can be sold quickly and at a fair price. This makes them a desirable investment for both short-term and long-term investors.</p>



<p>3. Growth potential: US stocks offer some of the highest growth potential in the world, making them an attractive investment for those looking to grow their portfolio over time.</p>



<p>4. Stability: The US stock market is one of the most stable in the world, offering investors a high degree of security. This makes it a desirable place to park your money during times of market volatility.</p>



<p>5. Low fees: US stock brokers typically charge lower fees than those in other countries, making it a more affordable option for investors.</p>



<p>6. Dividend income: Many US stocks offer regular dividends, providing investors with a steady stream of income. This can be especially beneficial for retirees or those looking for regular income payments.</p>



<p>7. Tax benefits: Investing in US stocks offers certain tax benefits, such as capital gains discounts and dividend tax credits, which can help reduce your overall tax bill and improve your overall financial position.</p>



<p>8. Strong economic growth: The United States is one of the fastest-growing economies in the world, offering investors opportunities for strong returns over time.</p>



<p>9. Robust financial system: The United States has one of the most robust financial systems in the world, offering investors greater security when investing their money.</p>



<p>10. Exposure to global markets: By investing in US stocks, you gain exposure to some of the biggest and most influential companies in the world, providing you with greater diversification and risk protection.</p>



<h2><strong>8 tips on how&nbsp; to invest in foreign stocks from Nigeria</strong></h2>



<p><strong>1. Contact a stockbroker:</strong> This is the most common way to invest in foreign stocks, as most Nigerian banks have relationships with global stockbrokers who can facilitate transactions. <a href="https://www.investopedia.com/terms/s/stockbroker.asp">Stockbrokers</a> are financial professionals who work in brokerage firms or other financial institutions, executing orders in the market on behalf of clients.&nbsp;</p>



<p>To contact one, you may start your research online and gather a list of brokers or reach out to friends and network who may be able to help. Once you have your list, set up a meeting with each of them and ask them questions about their services, how they work, what their fees are, etc. After you&#8217;ve met with them all, decide which one you want to work with and sign up for an account.</p>



<p>For most of the stock brokerage firms, they have limited amounts to start with. With <a href="https://risevest.com/">Risevest</a>, a a dollar-investment company, an investor can begin with as low as $1 to begin, this remove the barrier of entry for everyone who wants in invest in foreign assets</p>



<p><strong>2. Sign up for an online trading account:</strong> A growing number of Nigerian investors are using online trading platforms like Risevest and Bamboo to buy and sell foreign stocks. This option may be more convenient and offer better prices than working with a stockbroker.</p>



<p>While this may sound like a great way to invest your funds, here are some of the demerits of using this option to invest in foreign stocks:</p>



<p>a. Lack of knowledge and experience – Trading stocks is a skill that takes time and practice to master. If you are new to the stock market, it is important to do your research and learn about the different strategies that can help you make money. Here’s an <a href="https://risevest.com/blog/how-to-be-a-good-investor">article</a> on how to be a good investor.</p>



<p>b. High risk – Trading stocks is a high risk investment and there is always the potential for losses. Before making any trades, it is important to understand the risks involved and have a solid trading plan in place.</p>



<p>c. Time commitment – In order to be successful at trading stocks, you need to be able to dedicate time to monitoring the market and making trades. If you are unable to commit the time needed, it may be better to hire a professional trader.</p>



<p>d. Stressful – The stock market can be a volatile place and traders can often experience a lot of stress when making decisions about their investments. This can be especially harmful if you are not used to dealing with stress in your everyday life.</p>



<p>e. Expensive – Trading stocks can be expensive, especially if you are not doing it yourself. Commission fees from brokers can quickly add up, so it is important to find a broker that offers low commission rates.</p>



<p>However with Risevest, we help you invest and manage your money by investing in our portfolio of 30 high-growth stocks across the US market with our equity portfolio of power stocks.</p>



<p>All you have to do is to follow these steps</p>



<p>Go to the Rise <a href="https://risevest.com/stocks">website</a>, sign up and begin your investing journey on the go.&nbsp;</p>



<p><strong>3. Buy exchange-traded funds (ETFs): </strong>ETFs are funds that track specific indexes or baskets of securities, and many of them include foreign stocks. This can be a cost-effective way to get exposure to a number of different foreign markets.</p>



<p>If you want to buy US exchange-traded funds from Nigeria, you need to open a brokerage account with a Nigerian broker that offers access to these products. Once your account is open, you can transfer money from your bank account to the brokerage account and then use this money to purchase the ETFs that you are interested in.</p>



<p>When buying ETFs, it is important to consider the fees that will be charged. Most Nigerian brokers charge a commission on each transaction, as well as a yearly maintenance fee. Make sure you understand these fees and how they will impact your overall investment returns.</p>



<p>Finally, always remember to do your own research before investing in any product. The best way to learn about ETFs is to read the fund&#8217;s prospects, which can be found on the broker&#8217;s website or on the website of the fund issuer. This document will give you a detailed description of the ETF, including its investment objectives, strategies and risks.</p>



<p>Below are a few examples of popular US exchange-traded funds:</p>



<p>&#8211; SPDR S&amp;P 500 ETF (SPY)</p>



<p>&#8211; Vanguard Total Stock Market ETF (VTI)</p>



<p>&#8211; iShares Russell 2000 ETF (IWM)</p>



<p>&#8211; WisdomTree Emerging Markets Equity Income Fund (DGS)</p>



<p><strong>4. Use mutual funds:</strong> Mutual funds also offer access to foreign stocks, and many of them have mandates that allow them to invest in companies from around the world. This can be a good way to diversify your portfolio across multiple geographies.</p>



<p>An example is the Stanbic IBTC Mutual Funds.</p>



<p><strong>6. Buy shares through an international broker: </strong>If you have a specific country or region that you want to invest in, you can often buy shares of individual companies through an international broker. This can be expensive and may not be as convenient as using other methods, but it can give you direct exposure to specific markets.</p>



<p>When it comes to buying shares through an international broker, there are a few key challenges that investors need to be aware of.</p>



<p>The first challenge is that many brokers have different rules when it comes to which countries they can do business in. This can make it difficult for investors to find a broker that is able to execute their trade.</p>



<p>The second challenge is that most international brokers charge higher fees than domestic brokers. This is because they have to account for the additional costs associated with doing business across borders.</p>



<p>Finally, investors need to be aware of the potential for currency fluctuations when buying shares through an international broker. This can cause the price of the shares to change unpredictably, which can be difficult to manage for investors who are not familiar with foreign markets.</p>



<p><strong>8. Consider alternative investments:</strong> Finally, there are a number of alternative Nigerian investment options that can give you exposure to foreign stocks, such as venture capital funds, hedge funds and private equity investments.</p>



<h2><strong>How to invest in foreign stocks with Risevest</strong></h2>



<p>You can invest in foreign stocks, particularly the US stocks, on Rise. It is an investment company that deals in dollar-denominated assets like US stocks and real estate.</p>



<p>Investing in stocks on Rise gives you access to a portfolio of 30 high-growth stocks across the US market, helping you build wealth and achieve your financial goals faster and easier.</p>



<p>Why Risevest stock portfolio?</p>



<ul><li>We do the work for you and are fully committed to investing your money at the best available price.</li><li>Our transparent and low fees gives room for beginners and experts in stocks to invest their money and maximize returns.</li><li>We leverage market insights and ideas from our trusted advisors and fund managers.</li><li>You don’t have to worry too much about the market as we take on that burden for you.</li></ul>



<p>Here is a step-by-step guide on how to invest in foreign stocks with Rise.</p>



<ol><li>Download the mobile app on your app or play store or go to the Rise <a href="https://risevest.com/">website</a> to sign up</li><li>Sign up and carry out the necessary prompts.</li><li>Click on ‘Plans’ right after the homepage and select ‘Asset classes’</li><li>Click on ‘Stocks’, then click on ‘Get started’</li><li>Give your plan a name and begin investing right away.</li></ol>



<p>With these easy steps, you can become a global investor from whatever state you are in Nigeria.</p>



<p>Also read more tips on how to invest in foreign stocks <a href="https://www.forbes.com/advisor/investing/international-stocks/">here</a>.</p>


How To Invest In Foreign Stocks


<p>In The Richest Man in Babylon, <a href="https://en.wikipedia.org/wiki/George_Samuel_Clason">George Samuel Clason</a> outlines the teachings of a man who became wealthy and successful. The <a href="https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111">book</a> contains stories and advice that can help you achieve financial security and abundance. In this summary, we will discuss his seven cures for a lean purse. If you want to learn how to build wealth, read on!</p>



<h2>Seven Lessons from the Richest Man in Babylon&nbsp;</h2>



<h2>1. Start saving money</h2>



<p>The first cure for a lean purse is to start saving money. The man in the story, The Richest Man In Babylon, saved ten percent of his income and slowly increased his savings over time. He also invested his money wisely and avoided debt.</p>



<p>Here are some strategies you can use to start saving money:</p>



<p>a. Automate your finances</p>



<p>One of the best ways to save money is to make it automatic. Automating your finances means that you set up a system where a fixed amount of money is transferred from your checking account to your savings account each month. This can help you to avoid the temptation to spend your money frivolously and will help you to save money without even having to think about it.</p>



<p>Are you finding it hard to stay consistent with your savings plan? Do you seek ways to automate your savings, particularly in dollars, making it easier to reach your financial goals? <a href="https://risevest.com/">Rise</a> has you covered. Our auto-invest option simplifies this process for you, so you don’t have to manually do it yourself. All you need to do is turn on the Auto-invest option, set a funding amount, frequency&nbsp; and preferred payment method, and we Rise will automatically save for you on schedule.</p>



<p>b. Find a good savings account</p>



<p>When it comes to saving money, it’s important to find a good savings account that is safe and offers relatively high interest rates. This will allow you to grow your savings more quickly and will help you to achieve your financial goals sooner.</p>



<p>On Rise, you are guaranteed 8% percent returns on your wallet savings. Now, what is Rise? It is a dollar investment company that helps you build wealth and achieve your financial goals by investing your money in high quality assets like stocks and real estate. It is regulated by the SEC through a trusteeship agreement with ARM Trustees, who oversees investments on your behalf. All assets are held in regulated third parties in the relevant jurisdictions. So there, you have it! A safe savings account that offers relatively good returns, and in addition, allows you to invest in foreign assets.&nbsp;</p>



<p>c. Make a budget and stick to it</p>



<p>Budgeting is another essential step in saving money. When you have a budget, you are able to track your spending and make adjustments as needed so that you can stay within your budget constraints. This will help you to avoid overspending and will ensure that you have enough money saved each month.</p>



<p>In this <a href="https://risevest.com/blog/how-to-make-a-budget-youll-actually-use">article</a>, we’ve written everything you need to know about budgeting. And you can find some great budgeting apps <a href="https://www.clevergirlfinance.com/blog/the-best-budget-templates/">here</a>.</p>



<p>d. Cut back on unnecessary expenses</p>



<p>There are likely many expenses in your life that are not necessary, such as cable TV, eating out frequently, or buying new clothes all the time. By cutting back on these types of expenses, you can free up more money to put into savings.</p>



<h2>2. Live below your means</h2>



<p>The second cure according to George Samuel Clason’s The Richest Man in Babylon is to live below your means. The man in the story was content with what he had and did not try to keep up with the Joneses. He only bought what he could afford and lived a simple lifestyle.</p>



<p>Here are some strategies on how you can start living below your means:</p>



<p>a. Evaluate your spending.</p>



<p>The first step to living below your means is to evaluate your spending. Take a close look at your bank statements and credit card bills to see where you are spending the most money. This can help you figure out where you can cut back on your expenses.</p>



<p>b. Create a budget.</p>



<p>Creating a budget is a great way to start living below your means. A budget will help you track your expenses and make sure you are only spending what you can afford.</p>



<p>c. Make a list of expenses you can live without.</p>



<p>There are likely some expenses that you can live without altogether. Make a list of these expenses and try to cut them out of your budget altogether.</p>



<p>d. Find cheaper alternatives to your regular expenses.</p>



<p>There are likely cheaper alternatives to some of your regular expenses. For example, instead of dining out, cook at home more often. Or, instead of buying brand-name clothes, shop at discount stores instead.</p>



<p>e. Stick to your budget!</p>



<p>The best way to start living below your means is to stick to your budget. If you find that you are having a hard time sticking to your budget, try setting some stricter limits or finding an accountability partner who can help keep you on track</p>



<h2>3.Like The Richest Man in Babylon, always Make your money work for you</h2>



<p>The third cure for a lean purse is to make your money work for you. The man in the story of the Richest Man in Babylon invested his money in businesses and real estate. He made sure that his money was working hard so that he could live a comfortable life without having to worry about financial insecurity.</p>



<p>Here some ways you can use to start making your money work for you:</p>



<p>a. Invest your money: One of the best ways to make your money work for you is to invest it. Investing your money can help you grow your wealth over time. There are a number of different investment options available in Nigeria, and we’ve written everything you need to know about them in this <a href="https://risevest.com/blog/investments-in-nigeria-the-ultimate-guide">article</a>, so it is important to research the ones that best fit your needs and risk tolerance and begin investing right away. Rise has various investment asset classes that can fit your risk appetite.</p>



<p>b. Use credit wisely: <a href="https://economictimes.indiatimes.com/definition/credit">Credit</a> can be a powerful tool when used correctly. Make sure you only borrow what you can afford to pay back and always try to get the best interest rate possible. This will help you to save money in the long run.</p>



<p>c. Use a financial planner: A financial planner can help you make the most of your money by developing a personalized plan tailored to your specific goals and needs. They can provide guidance on how to save for retirement, pay off debt, and more.</p>



<p>d. Start a side hustle: A side hustle can be a great way to make extra money and grow your savings. There are a number of different ways to earn extra cash, so find one that best suits your skills and interests. <a href="https://risevest.com/blog/how-to-make-20000-naira-daily">Here</a> are some ways you can make income on the side in Nigeria.</p>



<p>e. Stay disciplined with your spending: One of the most important things you can do to make your money work for you is to be disciplined with your spending. Resist the urge to buy unnecessary items and stick to a budget plan.</p>



<h2>4. Guard your money from loss</h2>



<p>The fourth cure is to guard your money from loss. The richest Man in Babylon  diversified his investments and insured himself against risks. He did not put all of his eggs in one basket and was prepared for setbacks.</p>



<p>Here are some actionable steps you can use to prevent money loss:</p>



<p>a. Invest your money in a variety of places: Diversification is an important financial strategy that protects your investments against loss. When you spread your money out, you reduce the risk of losing it all if one investment goes south. In this <a href="https://risevest.com/blog/its-not-enough-to-just-invest-in-stocks-heres-why">article</a>, we talk about why you should and how you can diversify your investments.</p>



<p>b. Keep your money in foreign currency: This may not be the most exciting option, but it&#8217;s one of the safest. You don&#8217;t have to worry about your money losing value if you keep it in a foreign currency like the USD. It also helps to hedge your investment or savings against rising inflation and currency devaluation.</p>



<p>c. Use a savings account: A savings account is a great way to protect your money while still allowing it to grow. The interest rates on savings accounts are typically higher than on checking accounts, so your money will work harder for you.</p>



<p>e. Get an insurance policy: If something happens to your money, an insurance policy can help you recover some or all of your losses.</p>



<p>f. Diversify your investments: As mentioned before, spreading your money out is a good way to minimize risk. By investing in a variety of things, you&#8217;ll reduce the chance that all of your eggs will be in one basket.</p>



<h2>5. Stay out of debt</h2>



<p>The fifth cure for a lean purse is to stay out of debt. The man in the story only borrowed money when he could afford to pay it back. He knew that debt could lead to financial ruin and avoided it at all costs.</p>



<p>Here are 5 ways you can properly use debt:</p>



<p>a. Get organized</p>



<p>One of the best ways to stay out of debt is to get organized. Make a budget and track your expenses so you have a better understanding of where your money is going each month. This will help you identify areas where you can cut back and put more money towards your debt.</p>



<p>b. Create a debt payoff plan</p>



<p>Another key to staying out of debt is developing a debt payoff plan. Figure out how much money you can realistically put towards your debt each month and create a timeline for becoming debt-free.</p>



<p>c. Stick to your budget</p>



<p>It&#8217;s important to stick to your budget once you&#8217;ve created it. If you allow yourself to overspend, you&#8217;ll quickly fall back into debt. Be disciplined with your spending and make a commitment to living within your means.</p>



<p>d. Make extra payments</p>



<p>If you can afford it, make extra payments on your debts each month. This will help you pay them off faster and save on interest costs.</p>



<p>e. Seek help if needed</p>



<p>If you&#8217;re struggling to get out of debt on your own, don&#8217;t be afraid to seek help from a financial advisor or credit counseling service. They can provide guidance and support as you work to become debt-free.</p>



<h2>6. Own your own home</h2>



<p>The sixth cure is to own your own home. The man in the story bought a house outright and did not have to worry about making mortgage payments. He was able to live rent-free and use his extra money to save for retirement or invest in other ventures.</p>



<p>Here are 5 steps you can take to own your home:</p>



<p>a. Determine what you can afford.</p>



<p>When it comes to buying a home, it&#8217;s important to be realistic about what you can afford. Mortgage lenders will look at your income, debts and credit score to determine how much money they&#8217;re willing to lend you. So before you start house hunting, sit down and figure out how much you can comfortably afford each month.</p>



<p>b. Save up for a down payment.</p>



<p>Most lenders require borrowers to put down at least 20% of a home&#8217;s purchase price as a down payment. So if you&#8217;re looking to buy a $200,000 home, you&#8217;ll need to save up at least $40,000. However, there are some programs available that allow borrowers to put down as little as 3%.</p>



<p>Start saving for your down payment using Rise&#8217;s Own A Home Plan.</p>



<p>c. Get pre-approved for a mortgage.</p>



<p>Getting pre-approved for a mortgage is one of the smartest things you can do when buying a home. It shows sellers that you&#8217;re serious about purchasing a property and that you have the financial backing to do so. Plus, it&#8217;ll give you an idea of how much money you can actually borrow.</p>



<p>d. Research neighborhoods and schools.</p>



<p>Before buying a home, it&#8217;s important to do your research and make sure the neighborhood and schools are right for you and your family. You&#8217;ll want to consider things like commute time, crime rates and the quality of local schools.</p>



<p>e. Hire a real estate agent.</p>



<p>Hiring a real estate agent is probably one of the best decisions you can make when buying a home. They can help you find the right property, negotiate on your behalf and guide you through the entire buying process.</p>



<h2>7. Have multiple streams of income</h2>



<p>The seventh and final cure for a lean purse is to have multiple streams of income. The man in the story had several businesses and investments that generated income. This allowed him to live a comfortable life without having to rely on one source of income.</p>



<p>Here are 5 actionable steps to building multiple streams of income:</p>



<p>a. Diversify your income sources: Don&#8217;t put all your eggs in one basket. When you have multiple streams of income, it&#8217;s less risky if one of those income sources dries up.</p>



<p>b. Invest in yourself: Educate yourself on different ways to make money. There are many online courses and programs that can teach you how to start a side hustle or create an online business.</p>



<p>c. Create a plan: Figure out what types of income you want to generate and how you can realistically achieve them. It&#8217;s important to be realistic and set achievable goals.</p>



<p>d. Start small: Don&#8217;t try to do too much too soon. Pick one stream of income and focus on building that up before adding another stream.</p>



<p>e. Stay disciplined. It&#8217;s easy to get sidetracked when you&#8217;re trying to manage multiple streams of income. Make sure you set aside time each week to work on your business goals and stay on track.</p>



<p>If you want to learn how to build wealth, The Richest Man in Babylon is a great place to start. The book contains stories and advice that can help you achieve financial security. In this summary, we have discussed seven cures for a lean purse. Implement these ideas into your life and you will be on your way to becoming wealthy!</p>



<p>Here are <a href="https://www.uzomadozie.com/blog/book-review-the-richest-man-in-babylon-by-george-s-clason/">reviews</a> and <a href="https://www.theceo.in/review/book-review-the-richest-man-in-babylon">summaries</a> from others.&nbsp;</p>


The richest man in Babylon Summary.


<h2><strong>Amazon Deepens Their Healthcare Reach</strong></h2>



<p>Amazon made its biggest healthcare play yet. In a $3.9bn all-cash deal, Amazon acquired One Medical, membership-based telemedicine and virtual healthcare provider.</p>



<p>One medical gives members primary healthcare over video chat at any time of the day and referral to a physical location if need be. They have nearly 200 locations, a network of thousands of doctors, and over 767,000 member patients as of May.</p>



<p>The company went public in January 2020 at $14; at its peak in February 2021, it traded at almost $60 apiece. From March 2021 to May 2022, the stock fell almost 90% to $6. This month, Amazon swooped in and acquired them at $18 a share.</p>



<h2><strong>What’s in it for Amazon?</strong></h2>



<p>This is not Amazon’s first venture in healthcare. Amazon has slowly been building up to becoming a significant player. Amazon acquired Whole Foods, a healthy food supermarket chain, for $13.7bn in 2017. In 2018, Amazon acquired online pharmacy PillPack for $753m and launched Amazon Pharmacy in 2020 as a prescription delivery service.</p>



<p>In 2019, Amazon started Amazon Care, a 24/7 texting and video service app for Amazon employees to connect with clinicians. This year, Amazon expanded their services nationwide and opened in-person services in 20 cities across the US.</p>



<p>Amazon Web Services stores health data for many hospitals and health systems. The service has its natural language processing system trained to understand and extract health data from medical text such as prescriptions, procedures or diagnoses.</p>



<p>Now add fitness trackers, Alexa voice assistants and other health and wellness products sold on Amazon, and you see the big picture here for Amazon.</p>



<p>All these things exist in silos within Amazon’s ecosystem; if/when they put them together, it could completely change the consumer health experience and generate a lot of value for Amazon. The global telehealth market revenue is projected to increase from $70.5 billion to $598.3 billion in 2028. If Amazon can get the healthcare integration into its business right, it could generate billions in revenue and profits.</p>



<h2><strong>How could this work?</strong></h2>



<p>People can go on One medical, get a prescription, and have it delivered in an hour using Amazon Prime delivery services. Or a doctor on One medical runs a blood test on a patient and prescribes a change in diet; if the patient consents to it, that can be sent to Wholefoods to execute.</p>



<p>Amazon is the King of controlling the value chain from end to end. This One Medical acquisition is another step in owning a critical part of the value chain.</p>



<h2><strong>Privacy concerns</strong></h2>



<p>This acquisition also raises questions about medical data and privacy. By law, Amazon cannot use patient data outside One Medical’s silo. However, patients can consent to have their data shared under specific situations.</p>



<p>People are generally wary of Big Tech companies’ control over users&#8217; data. The acquisition of One Medical could make some users leave the platform simply because Amazon now owns the company.</p>



<p>The deed is not done yet, but the acquisition needs to get regulators&#8217; and One Medical’s shareholders’ approval before it is completed.</p>



<p>Economists and investors believe the global economy will slow down in the next 18-24 months. However, the stock market has shown to be improving in the last few weeks. These companies are likely making these moves to tap into the growth they can get from investors’ excitement while it lasts.</p>



<p>Tech giants are being strategic, and this is why we have structured our portfolio such that it can benefit from these excellent business executions. You can start building a stock portfolio today. </p>


Amazon Moves Into Healthcare


<p>At some point, you’ve probably thought, “How can I invest in dollar investment in Nigeria?” or “What Dollar investment opportunities are open to Nigerians?”. At the rate at which the dollar is <a href="https://gazettengr.com/naira-crashes-to-n710-per-dollar/">rising</a> every day, you may have done the maths and realised how much money you could have made if you invested your naira in dollars. </p>



<p>As the saying goes, the best time to invest in dollars was 5 years ago; the next best time is now. It is never too late to start this journey. Here’s your ultimate guide for dollar investment in Nigeria.</p>



<h2>Why Dollar investment in Nigeria ?</h2>



<p>Before you begin your dollar investment in Nigeria journey, it is important to know why you are doing it, and what’s in it for you.</p>



<p>Let’s consider 2 investors, Harry and Sally; each has ₦100,000 to invest in June, 2021. Sally chooses to invest in dollars and Harry in naira. They both found investment opportunities offering the same 10% annual return.</p>



<p>Sally converted her money at ₦500 to $1, which gave her $200 to invest. One year later, they compared their returns:</p>



<p>Harry’s ₦100,000 investment was now worth ₦110,000 and Sally’s $200 was worth $220. Both increased by 10%. But today, a dollar is trading at ₦700 to $1. So Sally’s $220 is worth ₦154,000. In naira terms, she made a 54% return! 44% of the return came from the rise in the dollar relative to the naira.</p>



<p>You might be thinking this only makes sense as long as the naira keeps falling, and you would be right to think that; Naira cannot fall forever.</p>



<p>Even back when the naira was still stable, investors still sought to keep some of their funds in dollars because it is the <a href="https://www.investopedia.com/articles/forex-currencies/092316/how-us-dollar-became-worlds-reserve-currency.asp">global reserve currency</a> and is backed by the most powerful nation on earth, the US. The dollar is a powerful currency that gives investors confidence that their funds will not sharply fall in value and access to world-class investment options</p>



<h2>How to invest in dollars investment in Nigeria </h2>



<p>Now that you know what’s in it for you, how can you invest in dollars? What dollar investments are there in Nigeria??</p>



<p>There are 5 main platforms you can use for dollar investment in Nigeria:</p>



<ul><li>Risevest</li><li>Bamboo</li><li>Chaka</li><li>Cowrywise</li><li>Trovefinance</li></ul>



<h3>Risevest</h3>



<p>Risevest offers users dollar investment opportunities in 3 primary asset classes: stocks, real estate and fixed income. These asset classes were designed to suit each investor&#8217;s risk appetite. If you are not comfortable taking risks and would like a stable investment with low risk, the <a href="https://risevest.com/fixed-income">fixed income</a> option, which offers a fixed return of 10%, is for you.</p>



<h4>What is Fixed Income?</h4>



<p>Fixed income, according to <a href="https://www.investopedia.com/terms/f/fixedincome.asp">Investopedia</a>, is a type of investment security that pays investors fixed interest or dividend payments at the end of its maturity date.&nbsp;</p>



<p>On Rise, our fixed income plan is like having a fixed deposit in another currency, the USD. It is ideal for investors who want to protect their money at very minimum risk. This type of investment pays investors both their principal investments and interests at maturity.</p>



<h2>Real Estate:</h2>



<p>If you are comfortable taking some risk but not too much risk, and are interested in dollar investment in Nigeria,  the <a href="https://risevest.com/real-estate">Real estate</a> option on Rise, which offers returns between 12% and 15%, is worth considering. Rise buys or rents high demand properties in the US below market value, then rents out or sells them on the open US market and pays returns to our investors, ensuring that they are profitable.</p>



<h2>Stocks:</h2>



<p>If you don’t mind taking even more risk, the <a href="https://risevest.com/stocks">stock </a>portfolio, which has historically delivered a 14% return per annum, might be the way to go. Rise helps you invest and manage your money by investing in our portfolio of 30 high-growth stocks across the US market with our equity portfolio of power stocks.</p>



<p>We allow investors to take a hands-off approach to investing. All investors need to do is deposit on the platform, and a team of experts that manages Rise’s investment portfolio will manage their funds.</p>



<p>And if you’re not yet ready to start investing, Rise offers a wallet function that gives investors an 8% return per annum on the funds they leave there.</p>



<p>Rise also has the option for you to set direct debits every month. So as soon as your salary comes in, your account is debited automatically to invest in your portfolio of choice. </p>



<p>You can deposit your naira directly on the platform, and we’ll do the conversion for you at the rate shown on the app. You can also fund your account directly with dollars if you have that. To start investing with Rise, you just need a minimum of $10.</p>



<p>We also regularly publish <a href="https://risevest.com/blog">content</a> that keeps our users updated on what’s happening in the markets, and how we are investing users’ money. Our rich content bank explains investing in simple everyday language using stories and interesting graphics. And this makes dollar investment in Nigeria easy. </p>



<h4>Fees</h4>



<p>Rise does not charge management fees on investments with returns below 5%. If you invest less than $1,000 on Rise, you get charged a 1% management fee on the total amount you invest. And you get charged a 0.5% management fee if you invest more than $1,000 on Rise.</p>



<p>There is a ₦35 bank transfer fee on processing withdrawals to accounts</p>



<p>If you deposit from a naira card, you will be charged a deposit fee from 1.4% to (1.5% + ₦100) per transaction and capped at ₦2,000.</p>



<p>If you deposit from a dollar card, you will be charged a deposit fee from 2.9% to (3.9% + ₦100) per transaction and this has no upper limit.</p>



<h3>Bamboo</h3>



<p>Bamboo gives investors the platform to be more hands on with their investing. They offer dollar investment opportunities in US traded stocks. People with Nigerian bank accounts can set up an account and begin trading US stocks with an initial investment of $20. Bamboo converts naira deposited to dollars so users can buy the stocks of their choice.</p>



<p>Bamboo also has a content bank which covers stock market basics, and more sophisticated analysis of stocks. They regularly share their stock watchlist with users via email. They also give users the option of earning returns from leaving dollars in their Bamboo wallet. Users can earn up to 8% per annum on funds they leave in their wallets.</p>



<h4>Fees</h4>



<p>Bamboo charges 1.5% of the total amount you trade with every time you buy or sell US stocks. If you have more than $10,000 invested in Bamboo, you will be upgraded to a gold account which, among several other benefits, reduces your trading fee from 1.5% per trade to 1%.</p>



<p>Bamboo always displays all associated fees for every transaction on the ‘review order page’ before you confirm, so you can choose to cancel the order if you’re not happy with the final cost/gain fees.</p>



<p>Bamboo charges ₦150 for transfers from a naira bank account, ₦2,000 for transfers from a naira debit or credit card and $29 for transfers from a US debit or credit card. They charge a ₦45 payment processing fee for withdrawals to naira bank accounts and a $45 fee for withdrawals to dollar bank accounts.</p>



<h3>Chaka</h3>



<p>Chaka gives users the option to be hands-on or hands-off with their investment. They allow users to buy US traded stocks and/or deposit their funds on the platform and allow their team of experts to invest their funds in stocks on their behalf through a feature called SmartInvest.</p>



<p>On SmartInvest, users get asked a few questions and based on their answers to those questions, they get an expert recommended portfolio. The minimum initial investment on Chaka is $10.</p>



<h4>Fees</h4>



<p>Chaka employs a dynamic fee structure based on your 30-day trade value, which is simply the sum of trades you’ve made in the last 30 days, including the current trade. Fees are then calculated based on the fee band you would be in after a trade is completed, not the current fee band you are in when the order is placed.</p>



<figure class="wp-block-table"><table><tbody><tr><td><strong>Trade Value</strong></td><td><strong>Trade fees</strong></td></tr><tr><td>$0 &#8211; $200</td><td>1.5%</td></tr><tr><td>$200 &#8211; $1,000</td><td>1%</td></tr><tr><td>$1,000 &#8211; $10,000</td><td>0.85%</td></tr><tr><td>$10,000 &#8211; $50,000</td><td>0.75%</td></tr><tr><td>$50,000+</td><td>0.69%</td></tr></tbody></table></figure>



<p>The fees are structured this way to encourage more trading activity. The more you trade, the lower the fees you pay per trade.</p>



<p>For trading local stocks, the Broker commission is 0.5% or ₦100.</p>



<h3>Cowrywise</h3>



<p>Cowrywise offers mutual funds that can be denominated in dollar or naira. A mutual fund is a collection of money from different people that is given to a single entity called a fund manager to invest in things like shares, real estate, bonds etc.</p>



<p>Cowrywise gives users a risk assessment which includes a couple of questions that will help you understand your appetite and attitude towards risk. Based on the outcome of that test, Cowrywise will recommend some funds for you to invest. You can either choose from their recommended funds or go to all funds and choose from there.</p>



<p>The minimum initial investment of $10.</p>



<h4>Fees</h4>



<p>Cowrywise charges a 1.5% processing fee when you buy or sell mutual funds on the platform. They also charge a management fee depending on the fund you choose. The management fee is deducted from the returns your investment makes. They also charge a ₦35 fee on withdrawals.</p>



<h3>Trove</h3>



<p>Trove is another platform that allows users to fully control how their money is invested. They offer almost 4,000 stocks traded in the US and Nigeria. They give users access to analyst reports, regulatory filings and breaking news from the companies traded on the platform.</p>



<p>The minimum initial investment on Trove is also $10.</p>



<h4>Fees</h4>



<p>When you buy Nigerian stocks on Trove, you are charged</p>



<p>Brokerage fees of 1.35% of the total value of the transaction</p>



<p>and 0.30% of the total value of the transaction by the SEC (Securities &amp; Exchange Commission). VAT of 7.5% is charged on the 1.65% total brokerage and SEC fees. Platform charges of 0.5%, Stamp Duty of 0.075%, and CSCS (Central Securities Clearing System) Trade Alert of ₦4.20.</p>



<p>When you sell Nigerian stocks on Trove, you are charged</p>



<p>Brokerage fees of 1.35% of the total value of the transaction,</p>



<p>0.30% of the total value of the transaction by the NSE (Nigerian Stock Exchange),</p>



<p>Then VAT of 7.5% is charged on the 1.65% total brokerage and SEC fees</p>



<p>Then platform charges of 0.5%, Stamp Duty of 0.075% and CSCS Trade Alert of ₦4.20</p>



<p>Trove charges 1% of the total amount you trade with for every time you buy or sell US stocks.</p>



<p>Deposits made using debit/credit charges attract a payment gateway fee of 1.5% and ₦100 for transactions over ₦2,500. Deposits and withdrawals made using bank transfers are completely free.</p>



<p>Trove displays all associated fees for every transaction on the review order page before confirming, so you don’t have to worry about doing any complex maths. You can choose to cancel the order if you’re unhappy with the final cost/gain after fees.</p>



<h2>Fee Summary Table</h2>



<figure class="wp-block-table"><table><tbody><tr><td><br>Company</td><td>Management Fee/Trading Fee</td><td>Deposit Fee</td><td><br>Withdrawal Fee</td></tr><tr><td>Naira card</td><td>Dollar card</td></tr><tr><td>Rise</td><td>Up to 1%</td><td>1.4% to (1.5% + ₦100) capped at ₦2,000</td><td>2.9% to (3.9% + ₦100)</td><td>₦35</td></tr><tr><td>Bamboo</td><td>Up to 1.5%</td><td>₦150 for bank transfer₦2,000 for Debit/credit card transfer</td><td>$29</td><td>₦45 for naira withdrawal$45 for dollar bank account withdrawal</td></tr><tr><td>Chaka</td><td>Up to 1.5%</td><td>1.5%</td><td>3.9%</td><td>₦0</td></tr><tr><td>Cowrywise</td><td>Fund dependent</td><td>1.5% capped at ₦2,000</td><td>N/A</td><td>₦35</td></tr><tr><td>Trove</td><td>1%</td><td>1.5% + ₦100</td><td>1.5% + ₦100</td><td>₦0</td></tr></tbody></table></figure>



<p></p>


The Ultimate Guide for Dollar Investment in Nigeria


<p>Dollar investments in Nigeria are gradually becoming a popular choice, especially for Nigerian investors as they offer more advantages and opportunities for higher returns than naira investments.</p>



<p>Some of these advantages include the differences in risk levels of both investments. Dollar-denominated investments are not subject to the same currency risk as naira-denominated investments. This means that dollar investors can avoid the volatility of the Nigerian currency and benefit from more stable returns.</p>



<p>They also offer higher potential returns than naira investments because dollar-denominated assets are generally more valuable than naira-denominated assets.&nbsp;</p>



<p>Finally, dollar investments are open to a wider range of people than naira investments as many dollar investment vehicles, such as stocks and bonds, can be purchased through online brokerages or apps.</p>



<p>Despite the different types of dollar investment vehicles available in the Nigerian market, <a href="https://risevest.com/">Risevest</a> has continued to prove to be the people’s choice and the better solution to dollar investments in Nigeria.&nbsp;</p>



<h2>Why was Risevest founded?</h2>



<p>Risevest was founded because we believe that everyone should have access to the best financial opportunities. We believe that by using technology, we can level the playing field and provide people with the same opportunities regardless of their background or location. We are a team of passionate individuals who are committed to making a difference in the world, and are constantly striving to improve our platform and make it easier for people to reach their financial goals. Our ultimate <a href="https://risevest.com/about-us">goal</a> is to help people achieve financial freedom and create a better future for themselves and their families through dollar investments in Nigeria and across the globe.</p>



<p>Investors are always on the lookout for the best opportunities to create wealth. Whether it&#8217;s investing in a hot new startup or putting money into a real estate development, there are many ways to make a profit.</p>



<p>However, finding the best opportunities can be difficult, especially if you&#8217;re not connected to the right people and channel. That&#8217;s where we come in: our team is dedicated to connecting investors to the best wealth creating opportunities in the world, especially Nigerians seeking dollar investments in Nigeria.</p>



<p>We scour the globe for investment opportunities that offer the potential for steady returns, and then we bring them straight to you. So if you&#8217;re looking for the best way to make your money grow, look no further than us. We&#8217;ll help you find the best wealth creating opportunities out there.</p>



<p>At Risevest, we believe that everyone deserves access to these opportunities in the world, which is why we built a platform that makes it easy for investors to connect to them, regardless of their location or experience level. By providing a simple, streamlined way to access the best opportunities, we&#8217;re helping investors reach their financial goals, which you too can be a part of.</p>



<p>If you want to live better, retire well and achieve more of your financial goals, there&#8217;s no better way to do that than to make smart choices and put in the hard work. But it&#8217;s definitely possible, as thousands of investors on <a href="https://risevest.com/blog">Risevest</a> have proved.</p>



<p>So what are the key ingredients for success? Firstly, you need to get started early. The sooner you begin saving and investing, the more time your money has to grow.&nbsp;</p>



<p>For example, let’s look at the story of Toby and Ada, who both started saving and investing at different times.</p>



<p>In 2020, Toby realised the need to keep money aside each time he got his service allowance. And at that time, inflation wasn’t biting hard and a dollar was still about 365 naira.</p>



<p>However, Ada started sometime in 2022, when a dollar was about 600 naira. Overtime, with the same frequency and amount, both their savings and investment have grown. But whose investment do you think is more? That’s right, Toby’s, and that’s because he started saving and investing earlier than Ada.</p>



<p>In essence, starting early to save or invest allows enough room for compounding and to earn higher returns.</p>



<p>Another key ingredient for success is the need to be disciplined about sticking to your savings and investment plan. It&#8217;s all too easy to give up when things get tough &#8211; but if you persevere, you&#8217;ll be rewarded in the end.</p>



<p>Finally, you need to diversify your holdings. Don&#8217;t put all your eggs in one basket &#8211; spread your investments across a range of different asset classes as a way to protect them. That way, when one asset class is experiencing a downturn, you have other ones to cover up for it.&nbsp;</p>



<p>By following these simple tips, you can live better, retire well and achieve more of your financial goals.</p>



<p>However, very few companies offer diversified dollar investments in Nigeria. Thankfully, Risevest is one of such companies, offering a wide variety of asset classes and investment options, making it the best&nbsp; solution for dollar investments in Nigeria. So in this article, we will explore why dollar investment is becoming more popular in Nigeria, and what Risevest has to offer.</p>



<p>Risevest is the perfect solution for dollar investment in Nigeria as it&nbsp; offers a wide range of asset classes and investment options including real estate, fixed income,&nbsp; and stocks.</p>



<h2>Risevest Asset classes</h2>



<p>Let&#8217;s delve a little bit into the various asset classes on Rise:</p>



<h2>Stocks</h2>



<p>According to <a href="https://www.investor.gov/introduction-investing/investing-basics/investment-products/stocks">investor.gov</a>, stocks are a type of security that gives stockholders a share of ownership in a company. They are also called “equities” and are a good investment option, despite their high rate of volatility.</p>



<p>By investing in this asset class on Rise, we help you to invest in stocks without having to worry about the timing or the management of your investment.</p>



<p>With Risevest, you can leave the stock picking and the research to us. We will continuously monitor your stocks and rebalance your portfolio as needed, so you can focus on your life and let your money work for you.</p>



<p>Our portfolio of 30 high-growth stocks across the US market is a great way to diversify your investment portfolio and potentially maximise returns.</p>



<p>By investing in a mix of large and small companies experiencing above-average growth, you can minimise risk while still having the potential to profit from rising stock prices.</p>



<p>Furthermore, a portfolio of high-growth stocks can provide you with exposure to a variety of industries and sectors, which can further reduce your overall risk. While there are no guarantees in the stock market, our portfolio of high-growth stocks is one way to increase your chances of success if you&#8217;re thinking long term.</p>



<p>The portfolio is well diversified across industries, with companies in healthcare, technology, and consumer goods being the largest positions.</p>



<p>The portfolio has a low turnover and expense ratio, providing investors with a cost-effective way to access a diversified portfolio of high-growth stocks.</p>



<p>Risevest is a hassle-free way to invest in stocks and achieve your financial goals.</p>



<p>Click <a href="https://risevest.com/stocks">here</a> to see how our stock investing works.</p>



<h2>Real Estate</h2>



<p>In an <a href="https://www.globalpropertyguide.com/North-America/United-States">article</a> by Global Property Guide, house prices continue to rise strongly in all of the 20 major cities in the US, which is a good thing for investors.</p>



<p>So investing in this asset class makes it easy, accessible and affordable for everyone to invest in US real estate, with pretty decent returns.</p>



<p>At Rise, we&#8217;re proud of our portfolio of rented buildings in the US. We take care of our properties and our tenants, making sure that everyone has a safe and comfortable place to call home.</p>



<p>We know that our buildings are an important part of our tenants&#8217; lives, and we work hard to keep them in good condition.</p>



<p>Our goal is to provide our tenants with a safe and comfortable place to live, and we&#8217;re proud to be able to offer that to our renters in the US.</p>



<p>You also can become a co-investor in our real estate in the US and earn returns in dollars.</p>



<p>All our properties are insured so your capital is secured. You can expect to have a return on investment of between 10 &#8211; 14% per annum.</p>



<p>Click <a href="https://risevest.com/real-estate">here</a> to see our approach to real estate investing in the US.</p>



<h2>Fixed income</h2>



<p>Fixed income assets, according to <a href="https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/fixed-income-securities/">Corporate Finance Institute</a>, are interest payments that an investor receives, which are based on the creditworthiness of the borrower and current interest rates. Generally speaking, fixed income securities&nbsp;</p>



<p>Risevest is committed to helping you grow your wealth. That&#8217;s why we offer a fixed income vehicle that can provide you with the stability and returns you need to reach your financial goals.</p>



<p>Whether you&#8217;re looking for short-term or long-term growth, we have a product that&#8217;s right for you. And with our experienced team of professionals, you can rest assured that your investment is in good hands.</p>



<p>With our fixed income asset <a href="https://risevest.com/fixed-income">class</a>, you&#8217;re guaranteed a 10% return on investment per annum.</p>



<h2>Goal-based plan</h2>



<p>A goal based plan is a personalised plan that helps you narrow down what you want, making it easier to achieve them. It takes into account your starting point, your goal, and the steps you need to take to get there.</p>



<p>Rise offers a variety of these goal-based plans, allowing investors to set aside funds for specific goals, such as wedding or education.</p>



<p>Creating a goal-based plan on Rise is the first step towards achieving your goal. Once you have created one, it is important to stick to it and be consistent. Remember, every small step gets you closer to your goal.</p>



<p>Here are the available goal-based plans on Rise:</p>



<h2>Relocation</h2>



<p>People relocate for various reasons. Yours may be for education, a new job, starting a family in a new city, an escape, or just that thrill of moving to a new place. Whatever your relocation reason is, Rise has you covered. Imagine saving up in naira for your relocation at N450/$ only to realise that dollar is now N600/$. You tried your best, but the value of your money has dropped.&nbsp;</p>



<p>The Rise app simplifies saving and growing your money in dollars for relocation and travel. With Rise, you can retain the value of your money so that when it’s time to travel, you just need to book your flight, pack your bags and say goodbye to your old city.</p>



<h2>Wedding</h2>



<p>Weddings are a beautiful thing, but they’re even more beautiful when they go as you want with all the bouquets, dresses, suits, venue and honeymoon location of your choice.</p>



<p>However, the rising cost of inflation and the rate at which the naira keeps falling makes it hard to come true, but with the wedding-based plan on Rise, you can invest towards having the wedding of your dreams as it helps you narrow down your investment and focus on achieving it.</p>



<h2>School</h2>



<p>With ‘Save for School Plan’ on Rise, you can start saving early for your tuition and earn a double-digit return on investment to pay for all your school and educational needs.</p>



<h2>Business</h2>



<p>People start businesses for various reasons; to have an extra stream of income, to create job opportunities or just general passion.&nbsp;</p>



<p>Whatever the reason, with our ‘Start A Business’ plan, you can save up and invest your capital in dollars till you’re ready to start.</p>



<h2>Kids</h2>



<p>Imagine your child is set to go off to college and you do not have to worry about any of their fees or financial needs. Imagine not having to dig into your personal pocket for their education, travel or other needs. Sounds amazing, right?</p>



<p>You can create that promising financial future of ease and comfort for them so that when it’s time for your little one(s) to start school or travel out, you won&#8217;t have to worry about anything, except missing them.</p>



<p>Did you know that if you invest $150 monthly for your child, in 10 years, you’ll have $40,000? That’s right. So begin your kid plan today.</p>



<h2>Own a Home</h2>



<p>You can be a homeowner by investing in the ‘Own A Home’ plan on Rise. This hedges your investment against the devaluing rate of the naira while also giving you returns on your investment.</p>



<p>Once you complete your sign-up on Rise, you&#8217;ll be able to create any&nbsp; goal-based plan and automate your investment using our auto-invest feature.&nbsp;</p>



<p>Rise is also one of the only companies in Nigeria that allows diaspora investors to fund their account with crypto. This makes Risevest a great option for dollar investment in Nigeria.</p>



<p>How to Sign Up</p>



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<p>How to Create a Plan</p>



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<p>How to Fund a Plan</p>



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<p>How to withdraw from a Plan on Rise</p>



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<p>If you are looking for a dollar investments in Nigeria, Risevest is the perfect choice.</p>


Dollar Investments in Nigeria: Why Risevest Is The Perfect Solution

Investments in Nigeria: The Ultimate Guide


<p>An economic recession is when a nation&#8217;s Gross Domestic Product (GDP) falls for two consecutive quarters. It is a significant and widespread decline in economic activities. Investments generally perform poorly during recessions.</p>



<p>Some signs of recession include falling consumer confidence, rising unemployment, high inflation causing a fall in purchasing power, and declining sales and production for businesses. All these symptoms cause investors’ confidence and stock prices to fall.&nbsp;</p>



<p>Recessions are relatively rare and often do not last long. While most investments recover a few years after a recession, there are also ways to protect your investment against the poor performance investments suffer during recessions.</p>



<p>Learn all about recessions and how they affect you in this <a href="https://risevest.com/blog/what-is-a-recession-and-how-does-it-affect-you">article</a>.</p>



<h3>How to Hedge</h3>



<p>The most effective way to hedge investments against loss is through derivative contracts. However, derivatives are very sophisticated tools that mainly professional investors use in their portfolios.</p>



<p>Here are some hedging methods that involve derivatives and others that don’t.</p>



<h3>De-risk your portfolio</h3>



<p>The first way to hedge your investment portfolio against a recession is to move from risky to safe-haven assets. While every investment has an element of risk involved, some investments have higher risk than others.&nbsp;</p>



<p>Low-risk assets are government bonds, treasury bills, and corporate bonds of companies with high credit ratings in developed countries. All other assets have higher risk.&nbsp;&nbsp;</p>



<p>As fears of recession increase, investors looking to protect (hedge) against a fall in the value of their investment sell their risky assets to buy low-risk assets. This causes the prices of risky assets to fall. The stock and crypto markets are currently experiencing a sell-off. We are currently seeing a sell-off in stock and crypto markets.</p>



<h3>Explore Other Asset Classes</h3>



<p>Asset classes with returns that are less reliant on economic growth tend to perform better than others. These include precious metals like gold and silver and commodities like heavy metals.</p>



<p>Investors looking to hedge their portfolios against recessions tend to move their funds into precious metals and commodities.</p>



<h3>Short Risky Assets</h3>



<p>A more sophisticated strategy that professionals employ is to benefit from the fall in the prices of risky assets. They do this by short-selling risky assets like specific stocks of companies or Exchange Traded Funds (ETFs) of markets that are likely to be hard hit by the recession.</p>



<h4>Some definitions</h4>



<h6><em>Short selling</em></h6>



<p>The simple principle behind buying and selling is to buy at a lower price and sell at a higher price. If you sell when prices fall lower than the price you bought, you will do it at a loss. This is where short selling comes in.</p>



<p>Short selling is simply selling at the current price you enter into a trade and buying at a lower price in the future. It is promising to sell something in the future for a high price that was fixed today.&nbsp;</p>



<p>For example, if you go short on a stock with a strike price of 100 today and tomorrow, the price falls to 80, you can buy the stock for 80 in the market today and sell at the 100 you entered the short position in.</p>



<h6><em>Long buying</em></h6>



<p>Long buying or taking a long position is the opposite of short selling. It is the typical way investors buy and sell stocks on the stock market. To profit from a long position, you buy a stock and sell it at a higher price.</p>



<h6><em>Exchange-Traded Funds</em></h6>



<p>An exchange-traded fund is a fund that is traded on an exchange. A fund is a collection or pool of money from different people/sources to invest in a stated purpose. A fund, like the Vanguard S&amp;P 500, collects money from different investors to invest in all the top 500 companies in the US.</p>



<h3>Short Risk, Long&nbsp; Risk Free</h3>



<p>Another sophisticated strategy would be making a pair trade where investors short risky assets and buy (go long on) stocks or ETFs that are likely to do better in a recession. They profit when the price of the risky asset falls and when the lower risk asset rises in price.</p>



<h3>How to Invest During Recessions</h3>



<h4>Buy and Hold</h4>



<p>Some of the best deals present themselves during market slumps. That’s when value investors like Warren Buffett go hunting for good deals because many high-quality assets are selling cheaply.</p>



<p>So if you have some cash set aside, buying during the recession and holding for the long haul can be a good strategy.</p>



<h4>Dollar-Cost Averaging</h4>



<p>Dollar-Cost averaging is simply breaking a bulk purchase into smaller units and buying periodically. Here’s a simple illustration to explain how it works.</p>



<p>Let’s consider the story of Jack and Jill.&nbsp;</p>



<p>Jack and Jill decided to start investing in the stock market in January 2020. They didn’t do much research because they honestly didn’t know what to look at, but they knew Apple was a great company. Many people buy Apple products, so that means they should be making money.</p>



<p>They both had a total of $1,000 each to invest. On January 2nd 2020, they bought Apple shares at $75.09 (post stock split figure). The pandemic happened, and all of 2020 went on as we know it.</p>



<p>Nine months later, on the 1st of September, 1 unit of Apple share was trading at $134.18. Jack&#8217;s $1,000 investment on was worth $1,786.92, a 78.69% increase. On the other hand, Jill&#8217;s $1,000 investment was worth $2,147.34, a 114.73% increase.</p>



<p>Why the difference?</p>



<p>Jack invested all his $1,000 at once on January 2nd at the average cost per share of $75.09, which gave him 13.32 shares of Apple. On the 1st of September, 1 Apple share was worth $134.18, which meant that each share had made $59.09 or 78.69%, and his total profit was $786.92.</p>



<p>Jill instead, decided to break her investment into small units. She started with a $100 investment and initially decided to continue investing $100 every month. But she noticed that the value of her investment kept going up steadily till on the 27th of February, when her investment went down by 8.94% to $68.38.&nbsp;</p>



<p>She saw this as a great opportunity (a Black Friday kind of opportunity) to get more shares than she did in January for the same $100. On the 9th of March, she saw the price of Apple shares fall again to $66.54., &#8220;Another Black Friday&#8221;, she thought, so she bought more. As the price of the share kept falling, she kept buying more. Here&#8217;s what that looked like:</p>



<figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="415" src="https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-1024x415.jpg" alt="" class="wp-image-1632" srcset="https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-1024x415.jpg 1024w, https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-300x122.jpg 300w, https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-768x312.jpg 768w, https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-1536x623.jpg 1536w, https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522-1568x636.jpg 1568w, https://money.rise.capital/wp-content/uploads/2022/05/table-blog-260522.jpg 1908w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>By September 1st, she had 16 shares (compared to Jack&#8217;s 13.32 shares) at an average price of $62.49 (compared to Jack&#8217;s at $75.09), which led to a profit otf $71.69 on each share or 114.73% growth and total profit of $1,147.34.2131</p>



<p>What Jill did is called Dollar-cost averaging (DCA). As you see asset prices fall, if you have some cash and still believe in the asset you are invested in, you can buy some more to reduce your average cost per unit. This can improve the return you eventually get if the asset eventually recovers.</p>



<h4>Don’t panic sell</h4>



<p>Don’t panic when asset prices fall. If you sell at a price lower than what you bought, you will incur a loss on your investment. Some investors say they will sell at a loss, buy at a lower price, and recover their losses as prices rise. While this is a decent strategy, in theory, it’s often tough to implement.</p>



<p>It takes a tremendous amount of resilience to sell at a loss and decide to continue investing after. It’s like having your fingers burnt or cut off. It’s difficult to go back in afterwards. Also, it is hard to buy at the bottom. It is more likely that you will buy at a point where the stock will get worse before it gets better.</p>



<p>In theory, it’d be more profitable to sell at a loss, buy at a lower price and make a larger profit when the stock recovers. But it’s challenging to execute this profitably. You’ll be better off staying invested and dollar-cost averaging if you have some extra cash set aside.</p>



<h4>Cut your Losses</h4>



<p>If something has fundamentally changed in the company you are invested in that makes future growth prospects seem bleak, it is reasonable to sell at a loss. Some stocks will never recover after they fall during a recession.</p>



<p>If you feel uncomfortable with the risk or believe that the assets you are currently invested in are unlikely to recover to previous highs, you should probably sell at a loss now. Because remember, the asset price can go even lower, which will lead you to lose even more money if you don’t sell.</p>



<h3>Conclusion</h3>



<p>Recessions can be very hard on investing. But with the right investment and hedging strategy, you can protect yourself and sometimes even make profits during recessions. If you need some help investing your funds, check out <a href="https://risevest.com/">Rise’s</a> portfolio offerings today.</p>



<p></p>
