The major financial lesson to learn is the concept of a store of wealth. A store of wealth is any asset that preserves its value over time. , it allows people to save today and spend in the future without losing purchasing power while gaining marginal profit. Over the years, Gold and Real Estate have been the most reliable sources of wealth, but in recent times, Bitcoin has entered the conversation. As a young Nigerian seeking to have a future of financial freedom, it's important to learn the strengths and weaknesses of the three.
Gold: Timeless stability
For centuries, Gold has been a trusted source of wealth. Its global acceptance and scarcity give it an edge against inflation and unstable currency. Gold is easily accessible in Nigeria in the form of Jewelry and coins. However, Gold does not generate cash flow.
Real Estate: Land never lies
Land is one of the most valuable ways to store wealth in Nigeria. Buying land in developing cities provides Good appreciation in a long run as urbanization expands. Real Estate takes time to sell but it has serve as foundation for wealth building for many Nigerian families. Development of rental properties also guarantees a steady cash flow.
Bitcoin: Digital Gold for the future
Bitcoin has a fixed supply of 21 million coins which offers similar scarcity to gold but Bitcoin is superior in term of how portable and divisible it is. As a Nigerian, value can be store in Bitcoin outside of the naira system which give protection against devaluation. However, the the volatile nature of the price makes it risky, also in Nigeria, government policy can affect access and trade.
No single asset is perfect. Combining Gold for its timelessness, land for its stability, and Bitcoin for its morfern potential can help build a strong financial foundation that can withstand unstable economic conditions and store wealth for the future.
As an investor, spread your investment in Gold , Real estate and Bitcoin. Having one source of investment is not nice for an investor, in case on the investment fail, the rest can still generate you profit to cover up the failed one. All the investment you listed are potential and futurist. In this era if you can not say you are an investment and you have no asset in Gold, Real estate and Bitcoin.
These investments are similar in term of time, its a long time investment the profit will not happen over night. It will take along time for to profit from it, so if you have no plan for long term investment do not invest in it. The Funny thing about these investments is that people can be patient with gold and Real estate, but when it comes to Bitcoin they want to gain profit faster. and when their expectation are cut short, they will tag Bitcoin scam. People expect more from Bitcoin than Real estate and Gold investment. The truth is that, if you can endure Real estate and Gold, do same to Bitcoin, and you will smile to the bank.