An Advice That Helped Me to Invest Wisely

It's the mindset of most youth to own a car as asset if he becomes endowed with money. At least driving in your own car isn't something bad. It serves as a kind of luxury and comfort to some of life activities like going long journey or even serving as a prestige among your colleagues Guys. Even I had the same intention at my childhood when ever I see some prominent workers in their own porch cars with quality dressed coats parking during some seminars or conference stuff.

That was the more reason why I was pushed to reach heights in my education. Such people I saw with their high class of porch cars were people who had invested in academia. So, they served as role model for me in my life. When life was beating me, things were very tough due to twist and turns due to my family death in my early age, I never gave up since I was having that mindset that to enjoy better life is through education.

For all these years, my dream was to have car first, of course that would make people around me respect me. There was nothing like planning for future savings or any other investment. Even when I completed tertiary and had a job, that mindset was still ringing in my ears. Especially when I saw my coworkers having entered into this car business it pushed me to use my little savings to purchase a taxi for someone to drive and make daily sales for me. "Sometimes it's good to have listen to different advices from friends and choose the best one." You'll notice that some of these friends might have gone through similar situation of what you were planning to do which didn't helped him.

Upon chatting with this my friend "Owusu Samuel" who is also my coworker about how to make good living and what I have planned doing, I revealed to him that I was to purchase a car for a driver to do this car business. "Owusu," began to laugh😂! I said oh what then is this laughter? Owusu answered, have you purchased a driver?? I said, ahh,, how can I purchase a driver? He answered again, yeah! before you purchase a car for this car business, you must purchase a driver first! In fact this literally sounded crazy for me but upon his further explanation I comprehended his statement. Because most people who enter this car business do not first look for good drivers, go into agreement with them before purchasing the car. So at long round you'll end up by purchasing a car for wrong person. These bad drivers would misuse the car and dump it somewhere after it had ruined.

We say; "experience is the best teacher!" "Owusu," began to narrative the story that his wife has gone through about this car business. Initially his wife didn't take the decision with him that she was going to buy a car. The wife bought the car for a bad driver for this taxi business. Everyday they this bad driver would fabricate stories of overhauling or maintenance. So, it's kinda the daily sales would go into the maintenance fees. Her wife was bleeding with debt for maintenance. Sometimes she had to go for loan for this maintenance work. She was seriously running at a lost. Finally, her wife had to sell the car at lost( depreciation price).

This made me understood the reason why the name "Car" in our local dialogue means "Debt." As its lifespan declines, it keep deteriorating leading to higher expenses.

Owusu then reveal the secret of his investment that had helped him till date and he had not regretted and this is " purchasing land or owning a house." Instead of focussing on purchasing a car, you can use the money to purchase a land and keep proper documentation. By 2 to 3 years you can sell the land for profit about the 3 times the actual price that you bought the land. There wouldn't be any maintenance like the car you've purchased. The only thing that many people don't like is seeing it as long term project. But the risk involved is lesser that buying a car for bad drivers. Natural disasters can occur and you can lose your car within few days. Something like accident and fire can ruin the car and can lose everything. But for the land, even if the whole vegetation is burnt you still have your land back, you can do whatever you like on it.

Even venturing into building houses for Real estate business is also good project that most people haven't given their attention to. Even with this house building, the risk involved is lesser that this car business. For instance Person "A" has bought a car and Person "B" had purchased a land built a house. There was an incidence and all their car and house got burnt. Person "A" loses everything entirely while Person "B" loses on the building on the land but he still had a chance of building on the land again. Since the land remains intact.

Upon receiving this advice, I drew my conclusion and kept in my diary that own land or house is my first priority assets in my life. Owning car becomes secondary assets due to the risks involved when weighing the two. In fact when I took this advice seriously for the past years it had really helped me a lot. Even though I'll future purchase a car for my personal use but would not enter into car business. I think everyone has his own ways of doing things and this is a kind of advice that had really really helped me. To some people, no matter what happens, they will still opt for a car. Since they have a lot of Money to the extent that losing the car is some meagre problem, but to average income persons, we must be conscious of what we use our money for. Thanks for your time.