The Effective Life Series: Tips on investing money
Launching the Effective Life Series on Citi FM and Citi TV, entrepreneur, Yaw Benneh-Amponsah, advises Ghanaians to make better decisions by investing for the future as the world battles economic upheaval.
Commenting on the topic, “Where do I invest my money now” Yaw Benneh-Amponsah, narrowed down some four areas Ghana can invest money.
Investment in business: People should invest in business. Investing in your business will create value for you in this economic crisis. In terms of investment, this is the best time to look for opportunities where potential partners will bring some skills that will improve your business.
Invest in yourself: Try to acquire new skills, in entrepreneurship or school, so that when the economy picks up again, you have a chance to be ahead of your peers. Continuous learning is important for everyone, invest in yourself first by seeking higher education.
Have a risk appetite: Hold money in forex, and try to invest in USD. Control your money for positive returns. If possible, buy FX [forex] and keep it for future benefit. More than 50% of the problems of Ghanaians will be solved if they exchange cedis for dollars. Consider investing in dollars to protect the value you have created through sweat. Patriotism on an empty stomach is nothing. Don’t hesitate to trade dollars to get some returns when the opportunity presents itself.
Real Estate: This is a good area to invest in, even if it is not as profitable as people think. But you have a chance to get more benefits in the future. Demand is down, so you build slower and don’t rush to save money because those who buy from you may pay less and your money will be locked up in debt. Buy construction materials at a discount to save you from the burden of high prices of goods and services.
https://www.youtube.com/watch?v=/SmdnXapVn20
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