I am in a dilemma worsened by this covid19.
I am a graduate male of 29 residing in the East.
I still squat with a friend, not because I don’t have money for house rent.
… But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.
I always feel I might move anytime soon– to either another state or abroad for masters or just practice of my profession. Note that I didn’t study a STEM course.
All these while squatting, I have been saving via my proceeds from hustles.
In the wake of this COVID-19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.
I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5 m as working capital.
It seems that trying to save more is a false economy and might be counter-productive.
NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it’s 3 rooms. This, I think will serve as an investment that will keep appreciating and also serve as a residence.
Or just open a domiciliary account to hedge against naira fall and continue saving.
What Do You Think Please?
Source: News update