People struggle with investing and where to start. Every week, we ask Risers in our community, from beginners to pros, to share their stories about personal finance and most importantly, help you get started. 

In this story, we have Uzezzi, a lawyer who cares about the long game more than anything else.

Tell me Uzezzi, what does financial wealth mean to you?

I believe financial wealth is having a reservoir of resources, preferably monetary and in abundance. 

Everyone has a starting point, when did you start investing?

I first heard about investment from friends who already had money in one venture or the other. At the time, I was only saving and was like “ah what’s this new thing I can do with money”.

I became curious but didn’t do much research if I’m being honest. 

Risevest came up and I was sold when all I had to do was put money there and not bother with the technical know-how. Being a new experience, I decided to try out Eurobonds which was the safest investment option on the platform. 

How do you approach investment today?

I like to play the long game. I am young so I have the time to risk it all and recover unlike when I first started by playing it safe. My current preference is investing in stocks because I believe I can afford the ‘gamble’.

What tools do you use to invest?

Besides cryptocurrency, like Luno, Binance and the rest, I use Risevest. I do not invest in things I cannot explain (even though Binance is killing me). I find that Risevest is quite easy to understand and easy to explain. 

What is the investing hill you are willing to die on?

You need to hold long term. If you are doing it short term, go and save your money instead. You can’t invest money today and then two weeks from now, it is itching you to touch it. If you are not looking at or thinking long term, forget it.

What has been your wildest gain?

Before I started investing, I was only saving. I saved so much that I was very confident that I can retire early, but since I started investing, my dream has been to retire even earlier than I thought when I was saving. Also, I have put a lot of women on, they never fail to remind me what this means to them.

Has there been any loss since you started investing? Have you lost anything?

No, I have only gained. Maybe I am lucky, but I haven’t played safe like that. Before, I will not put any money in stock, and today I have money in cryptocurrency and crypto is risky, if not riskier than stock.

I have not experienced any long term loss, which is the most important thing. 

What is the hardest investment decision you have had to make?

For a very long time, I stopped indulging in a lot of things because the buyer’s remorse was overwhelming. I always felt like I was stealing from my future self. Instead, I invest the money and sulk till I’m over it. That is as hard as it can get for me. There is no serious challenge I have faced since I started investing. 

So, what do you wish you had known before you made your first investment? Is there any lesson?

I wish I had more knowledge because I did it like it was a financial experiment, it was a fun thing that people were talking about, and I decided to test it too. 

It’s not that it made me lose in some way, I just wish I didn’t do it out of excitement or FOMO.

There is so much that I know now that would have been useful if I knew it then. For example, I thought you were to remove your money and count your losses when the market is down. WHAT A MUMU.

What does a dream investment look like to you?

A dream investment to me will keep on giving substantial returns. Substantial being that my returns alone can afford me the finer things of life. 

How does this dream investment compare with your reality today?

I mean I am not quite there yet, but I know I am on the way there, if I break my dream into little bits and pieces, I can see myself already achieving those little fragments that sum up to the total dream.  

I am currently able to do a few rather fancy things I would not have been able to do a few years ago. So yes, this is how it compares to my reality today.

Currently, how do you feel about your investment position generally?

It is fair to me, but I want more, I want bigger, I want better and I can do better. I’m currently focused on radically increasing my income so I can always have disposable cash for a fatter bag.

Let’s say I’m a beginner, what’d you tell me about investment?

I would tell them, it is important, but please start easy, do not jump into it, study and understand what it means. Understand the terminologies, the numbers, what returns mean, compounding, risks involved, etc. Don’t put your money in what you can’t explain. 

Also, do not put your mind on the notion that if you do not have $10,000 you can’t invest. Start with what you have and the best time is today because down the line, you will envy your mates who started earlier. So do your research and start small. It is okay to start small. 

Is there any investment option, you will tell them to invest in?

It depends on your risk appetite, if you are like me who does not care about the risk,  put your money in stocks. If you would rather dabble in the middle, Real estate is your guy.  

However, before you invest in anything, you should invest in yourself by at least being knowledgeable about it. Read, learn and ask questions. Also, Use my referral code (IF6R7QDG) to sign up on Risevest.