If I Do Not Understand How It Works, I Do Not Invest In It. My Name Is Toye And This Is How I Make My #Moneyrise

J.D shares her journey with Risevest, this details how he started investing with Risevest
This is Risevest user story,

What do you say when people ask you who you are? 

I am a business advisor; I provide advice on how to improve the performance of businesses.

What does financial wealth mean to you?

It is peace of mind, freedom, and choice to make or take any options I want. I want to look at something that I need and can afford without having to break the bank. Beyond that, it means building something, not just for myself but my children and generations after them.

How did you start investing?

I started at a very young age, I think when I was 23. And the reason Is that growing up, anytime my dad gave us money (my siblings and I), he told us not to spend it but save some of it. Building savings over time, I started looking for ways for it to multiply.

I had the opportunity to do my NYSC at a Financial Institution, and I learned about treasury bills and commercial papers. And I learned how customers were able to compound their money over time and see it grow.

How do you approach investing?

I am particular about not losing my capital preservation. I do not want to lose money; then again, if there is more risk, more return.

First, I look at the guarantee of capital-

How much returns can I get? According to Risevest app I am a medium-risk type of investor. I do not want to lose my capital but want to gain a lot more.

What tools do you use to invest?

I invested in Agric tech in the early days and more liquid investment type, fixed deposit, treasury bills. Lately, venture funding and real estate with Risevest.

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

I will say the philosophy is to try not to lose money. If I do not understand how it works, I do not invest in it. During MMM, I kept asking how people were making money, the answers were not convincing enough, so I did not put my money there. If I do not understand, I do not bother investing in it. 

I still do not understand what has been traded on crypto, or what kind of investing is done. Even though I am a tech enthusiast. I think blockchain is great, but someone has not explained what has been traded or its rationale. Maybe I just do not understand, but I plan to read up though.

Does it not feel like you are missing out on crypto tho?

It is like when people were cashing out on MMM; right now I know it feels like I am missing out on it. But someday, when I can understand what is being traded on Crypto, I would invest.

What financial instruments do you invest in?

I am currently not investing in any traditional financial investments. But I will say Eurobond, real estate investment with Risevest and Agric tech.

What is your wildest gain?

In the early days of Agric tech, I watched for almost a year, I went in around 2018. The most significant gains funds were 40% of my investment – it was in eight figures –so you can imagine.

What has been your wildest loss?

I do not think I have lost money. Though there was an Agric tech investment it was supposed to be 25% but they could not meet up, so they returned my capital. 

So what’s the secret to not losing too much money? 

I do not invest in things I don’t understand. It doesn’t matter how lucrative or nice it sounds, if I can’t explain it, I don’t invest in it. 

What is the hardest investment decision you have had to make

I’ll say deciding on whether to keep naira at high returns (I’m talking like 40%+ per annum returns) or move my money to FX at moderate returns. 

It sounds like a no-brainer now given the devaluation of the naira. But in the days when naira was ‘’stable” at ₦360, it was a tough decision to make.

What do you wish you had known before making your first investment?

In 2007, I invested in shares of a Nigerian company, I was looking for what next after my savings. If I had known, I would have understood shares and what to buy, I would not have put my money in shares. I just left the shares, if I calculate the share price now in that bank, maybe it will amount to the capital I invested 14 years ago. I will do that after this interview.

However, I get a dividend of ₦2000 once a year which I use to buy credit..lol.

You mean after 14 years, You’re back to the capital you invested 14 years ago? 

LOL, let me put it this way… I think I have lost because the purchasing power of my capital 14 years ago is not the same today. 

What does a dream investment look like to you?

I will say something that is stable, safe, liquid, with returns that beat devaluation, inflation, and safe from “Meffy”.

How does this dream investment compare with reality?

There are options that portend that reality, I have just done a real estate investment that aligns with that. I am also looking at doing that with stocks in the coming months.

How do you feel about your current investment position generally?

I feel like I can do more, I still have a lot of plans and ambitions for the future. I need to be able to make more money to finance my goals and ambitions. I also like to travel a lot. I am still working towards getting to the point where the returns of my investment can cater to my lifestyle or expenses over time. In 10 years, I want the returns to be able to pay for it and not the principal

Things like what?

I want to buy property, right now I do not think I will liquidate my investments and property is the next thing. I want the return on my investments or part of it to be able to do that.

What will you tell a beginner?

I will say start to save, put something small away. A little drop compounds over time, save in your account.

What will you advise them to invest in?

Invest in something that guarantees your capital, fixed income, and has a global outlook.  buy dollars and put in a domiciliary account or Risevest, not in naira because it loses value. Start small, invest in something that is fixed so you won’t lose your capital and be discouraged. Live below your means.