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Sani Ibrahim
Abubakar Tafawa Balewa,University
Agricultural economics and extension
100Level, Nigeria.
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Life is believed to begin at age 40. Before you turn 40, you
should have reached some financial milestones in life to make
your years as enjoyable as possible.
I share your financial steps you need to take before you turn
40. If you have reached the age of 40, you can still begin to
achieve these financial goals, because I think it is never too
late to achieve something in life. if you have the commitment
and courage.
The list below shows my personal recommendations. You
have the choice to make them disappear or not. Still, I think
your over-40s would be better if you reached those milestones
before you were 40.
1. Pay off debt: Debt can be a major setback in your journey to
financial security, especially compound interest debt. You must
do everything in your power to pay off all of our debts from
those with the highest interest rates.
Your goal should be to lead a debt-free life. Pay off your debt
and make sure you don't take it back. You have more peace
when you have no debts. Business loans are an exception.
However, you should consider other ways to raise capital for
your business before considering a business loan.
2. Build marketable skills: If you can do what others can’t do,
they’re willing to pay for it. What skills do you have that other
people would be willing to pay for? If you don’t have the skills
yet, go learn it today. This is very important!
Try to learn a skill that is not common. If everyone can do it,
the value will not be high. If you learn or develop a rare skill
that you can do almost perfectly and that has a good demand,
you can’t go bankrupt because your skills will always give you
Some good skills you can learn are graphic design, tablet
publishing, hairdressing, catering and decorating, tailoring,
vehicle mechanic, generator, computer repair and networking,
computer programming, web design, welding and
manufacturing, copywriting, nursing , carpentry, tiling, mosaic,
application development, POP roof installation, electrical work
and many more.
Most of these skills are not taught in colleges and universities,
but they can feed you. Therefore, even if you are a graduate,
you can learn the skills of someone who has one or in a skill
development center. It aims to have at least a good
marketable skill before the age of 40.
3. Develop a search for financial education: information is
dynamic. New information comes out every day. What you
know yesterday may be out of date. Therefore, you should
always be alert to new information. You need to make an
effort to update your financial knowledge.
Before you turn 40, you need to develop your reading skills.
Reading is one of the greatest ways to gain knowledge. You
need to learn regularly and quickly. Read good books and
research online. For information, you need to learn how to use
search engines like Google, Bing, AOL.com, Ask.com, and
Get a financial mentor: You need to follow someone who has
done what you want them to do to prevent mistakes from
being communicated by others and speed up your financial
One way to follow a mentor is to read all of their books or
5. Have an emergency fund -
The need to always have an emergency fund cannot be
stressed. An emergency fund is money that goes to your bank
account for serious emergencies such as job losses, illness,
accidents, disability, and so on. Experts recommend that your
monthly living cost be as an emergency fund for at least 6
This money should have good liquidity, but it's best not to
keep it in a savings account where you have access to it and
for depreciation. You can save the emergency fund to a
mutual fund account.
6. Start your own part-time or full-time business - if you’re not
starting a business before the age of 40, when will you start it?
When do you grow old? Business is a risk and the older you
get, the less appetite and risk aversion.
Try starting a business before you turn 40. You can do this part
time if you are employed. This will help you learn from your
mistakes, grow, and gain experience. Business mistakes and
failures get better when you are younger than at age.
7. Get married and have all your children: You have a more
balanced view of married life with children. You may not agree
with me, but I know that's true.
Married people almost jump into action without thinking. As a
married person, think things through various perspectives and
think before you move.
Think about the consequences of your actions, as it will affect
your family in some way. You think about the couple and also
make more balanced decisions, including business decisions,
because two good bosses are better than one.
Having your children under the age of 40 also has several
benefits, as it helps you grow with your children and helps
carry the financial burden of raising your children while you are
still young.
8. Build a solid base of passive income streams from paper
assets. Paper assets are one of the greatest ways rich people
make money almost effortlessly! Warren Buffett is one of the
richest men on earth because of his paper assets. Imagine you
have invested N50 000 000 in a mutual fund with a low annual
interest rate of 10%. This means that it would earn
approximately N5,000,000 annually and N 4,16,666 monthly. If
you continue to invest interest and capital, you will increase
even more in the coming years. Therefore, the rich are getting
richer because they use the power compound to use the paper
Before the age of 40, this is the best time to buy a lot of paper
assets. Invest in stocks, treasury bills, bonds, mutual funds
and other paper assets. He is interested in a wide range of
paper resources.
9. Investing in real estate: Investing in real estate is one of the
best investments you can ever make because it is always
appreciated in value over time. In addition to food, rental
housing costs are one of the biggest expenses for the family.
Before you turn 40, it would be good to build your house. See
here how you can build your low-income home. In the worst
case, even if you haven’t built a house, try to buy land before
you’re 40 years old.
10. You have your own farm: Have you thought about how
people without farmers would survive? You can say, ‘I don’t
have to be a farmer, because I can always buy the food I
need’. Let me ask you: What if you have money to buy food
and there is no food to buy because there are no farmers?
Even if you don’t want to grow full time, try a backyard garden
where they plant vegetables. This will help you appreciate the
wonderful work that farmers do.
Investing in agriculture can also be a good way to build
wealth. There is always a market available for agricultural
products. I have written several articles on agro-industry and
how you can benefit from it.
11. Start giving to others: You can get as much wealth and
wealth as you can, but if you can’t find a way to help others,
you won’t know what the accomplishment is. The true
measure of life does not lie in how much you have, but in how
much you give.
Start allocating a portion of your monthly income to help
others, especially the needy, children, and the elderly. You can
take responsibility for sponsoring a disadvantaged child
through school. You can adopt a child. You can meet the
needs of disadvantaged children and the elderly on a monthly
I can really do this without the stress of writing articles and
maintaining this blog as I don’t get a reasonable financial
benefit from it. My joy, though, is that this blog is helping
thousands of people overcome poverty and remain financially
Start handing out people now. You don’t have to be very rich
to help others. Give what little you have because it opens more
doors of resources. There are many people around you who
need your help and help. You can deliver cash or to babies in
need, disabled and motherless at home. You can sponsor a
poor child through school. There are inexhaustible ways to
give to others.
Bonus Tips:
1. Write a will. Many financial experts recommend getting a
lawyer to help you make a will that legally grants ownership of
your properties to everyone you want when you go ahead. This
is especially important in conflicting families.
2. Buy an insurance policy: Several financial experts also
advise you to buy life insurance. The goal is to give your loved
ones a financial advantage if you go further.
There you have it. It is not good for anyone to collect
information unless it is used. The choice is yours.

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