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Hot takes
- investing is for the rich and wealthy.
- I think investing can make you money if you are
- However investing is important for retirement
Investing
- Investing is for the middle to higher class, not for poor
- 10% fo 1M is not the same as 10% of $100
- What I am getting at is that 10% of $100 has little to impact in your life
- However saving and investing for lower income earners is the safest and slowest way to get rich over time by relaying on this 8th wonder of the world: compound interest. It also requires 30-40 years of consistency.
- TODO: insert chart of doubling penny everyday over time
- Unless you have significant percentage of the shares, you have no seat on the stakeholders meeting meaning there is not much you can do to impact the outcome of your investment
- Starting a business might be the solution for you
- pros:
- more risk, more income
- better ROI than investing
- 100% of say in the way the operation is run
Start a business
Few important terms
- ROI
- when less than 30%, hire management (CEO, COO, etc) and get out
- those are better
why
- yields higher ROI. I usually target 2X by end of year
Je vise habituellement la meme chose voir meme 100% hein mais Je me suis rendu compte qu'en passif ça ne le faisait pas. Certains investissements que Je vois ressemble plus à des paris car on a aucune mains dessus. C'est pourquoi Je fais de petites opérations où Je peux avoir des actions qui pèsent sur la balance à la fin de la journée
- ROI percentage return
- Why invest
- money is the best employer
- Can work for you relentlessly
- How
- I like 100% or 300%
- achievable running your own business
- try not to get yourself a new job with this business
- ideally needs to run without you
- minimum de control c'est important, surtout ici
- ma stratégie est de mesurer tout puis améliorer, prendre des décisions qui découlent de l'analyse des données
Businesses I tried
Tiak Tiak
- I made a website hope-delivery.com
- [ ] Bike 500k mine Scooter Honda 150 600k
- [ ] insurance 10k every 3 month
- [ ] fluid change 6k every 15 days
- [ ] full tank of gas 5k
- [ ] Safety cask 20k
- [ ] Safety alarm 8k
- [ ] Title and taxes 100k in 30days. Usually takes 70k in 15 days
- CMC
- Acte de vente légalisée
- photo d'identité carte d'identité
- End of year result:
- a bike
- input: 818k, output: 1.2M avec 4k daily ou 1.8M pour 5k daily
- profit: 1.2M - 808k = 392k
You can decide to rent it for 4k daily or hire an operator. In the latter option, you will need to
- Find businesses that need delivery, which shouldn't be too hard to find.
- Delivery in Dakar takes about 30-60 minutes to be completed. I know it because I ran hope-delivery.com since 2020.
Money chart
| Periodicity | ||
|---|---|---|
| revenue | 10-30k FCFA | daily |
| gas | 5-8k FCFA | daily |
- Gas is accounted for a scooter with 40km / L efficiency
- Do your own research to know which model works best for you
Car rentals
-
Here a a breakdown | | Price | Frequency | | --- | --- | --- | | Car (ie Ford escape | 4M | one time | | Débarquement | 250k | one time | | Dédouanement | 1.5M | one time | | Visite technique | 10k | yearly | | Assurance | 5k | monthly | | Lavage | 6k | monthly | | GPS | 10k | monthly | | income | 600k | monthly |
-
I made a website bcdmotors.com