I Make Sure That I Invest In Stocks That Will Rise Even If It Falls. My Name Is Omowunmi, And This Is How I Make My #MoneyRise
Hi Omowunmi, when people ask you what you do, what do you tell them?
I am a medical doctor, and I am seeking to create solutions to healthcare problems in Nigeria.
What does financial wealth mean to you?
It means not having to worry about money. And if I say I want something, I can get it without thinking about how expensive it is.
When did you start investing?
I started in early 2020, It was during COVID when things were not going so well.
I was tired of being broke, and I realised that investments are good for the short and long term. So I started exploring different investment options.
When I meant broke, I meant that I was not able to buy certain things without worrying about how much it would cost me and if I’d be able to survive on what was left. Inflation kept rising and my money was losing value, and I could no longer afford certain things. So I got tired of doing that and started looking for ways to work against inflation.
What did it feel like when you were exploring different investment options?
Honestly, I felt like someone threw me in the ocean and asked me to swim. But as I read articles, watched YouTube videos and started understanding the terminologies. I was able to make informed decisions that eventually helped me. The risks involved was the fear of losing my money to Ponzi and get rich quick schemes which had become commonplace.
What was the first thing you invested in?
The first thing I invested in was a piggy vest poultry farm, as a beginner I had to look for a low medium risk investment.
How do you approach investment today?
I am still in the learning phase. So my focus is on how it can benefit me in the long term, because I don’t want to spend my whole life working for money.
My penchant for risk depends on the money I have with me. If it is money I do not mind losing, I take high risks. I take low or medium risks for money I am not comfortable losing.
What tools do you use to invest today?
I use Risevest, Bamboo and Piggy Vest.
What investing hill are you willing to die on?
If you are in for the long haul, and you play your chips right. Investment, if done right, is a way to make sure that you are never poor.
What has been your wildest gain since you started investing?
During Covid 19 lockdown, I bought Delta airline stocks, because it was low as people were not travelling. Guess what? it has increased by 100% in the past year.
Have you made any loss?
None, so for me not to be able to recall, I have not made any loss.
What is your secret to not losing money?
I make sure I do my reviewing before I invest and I make sure that I don’t do a lot of wild investing. I make sure that I invest in stocks that will rise even if it falls.
I also invest in what I have read, in what I know, in what I have heard as compared to looking for diamonds in the rough.
What is the hardest decision you have had to make since you started investing?
Well, there was a time I needed money, and I had to sell one of my stocks. It was hard because I didn’t have a choice and it was a stock that was actually doing well but I needed the money.
Is there anything you wish you had known before you started investing?
I wish I started earlier, oh my gosh. I am a person that always saves, but I was not investing. The problem with saving is that I found out that over time I was spending the money I was saving. If I was investing, it would have increased.
Starting earlier would have helped me to have a better financial plan, being able to project more into the future. I always believed that I would have had so much financial freedom.
What does a dream investment look like to you today?
My dream investment is to have 10 bitcoin. Ehhh before you judge me, there’s a reason you called it a dream investment or can’t a girl dream?
Hahaha, a girl can definitely dream… But How does it compare to your reality today?
Funny enough, I have not started investing in Bitcoin hahaha. I have known about bitcoin for a while — since 2018 in fact –but I did not trust it and I was avoiding being scammed.
As of now, I am interested in knowing more about it, so I am currently working towards it.
How do you feel about your investment position generally today?
I am still a beginner and so I like the position that I am in, it is full of goals and opportunities to learn more.
I also currently don’t think that I am doing too badly and most of the decisions I have made have helped me. It has built me up and made me more aware of finances and made me sure of my plans
What will you tell a beginner about investment?
Do your due diligence! Don’t let anyone rush you to do things you don’t understand
Remember, all the information you need is on the internet. Make sure you read as many articles on investing as you can.
Don’t invest in quick money schemes, it does not last.