Ever heard of the term Plutophobia?
Plutophobia is derived from Pluto (wealth) and Phobia (fear) is the fear of wealth.
Yes, it is actually a thing that there are people who are afraid of being rich. It sounds funny, I even feel like laughing out loud as I type this, but looking at it deeply makes it not so funny.
Like, how can someone be afraid of being wealthy when we all know that money answereth all things? (We are well aware of immaterial wealth but for the sake of this article, all mention of wealth refer to money and all the riches that come with it).
There is also something called Chrometophobia. Chermato (money) and Phobia (fear) which is the fear of money.
The key triggers of phobias are external events which might be heredity or life experiences.
You might have heard time and time again that investment is not for the rich only. But then, you don’t know how exactly to invest with a low budget.
What if I told you that you do not need huge amounts of money to invest in portfolios that can give you beautiful rewards.
All you need is to have the right information and go where the opportunities abound.
Before you invest, first decide if you are willing to invest either for a short term or a long term.
This will enable you to look in the right places, thereby saving time and being decisive from the onset.
Pay attention to the following before your first investment:
- Beware of “too good to be true” offers. Examples are investments that offer high returns just after two days.
- Understand the risks that come with the investment you are taking up.
- Do your own proper research.
- Always get the second opinion from friend, family or an investments expert.
- Ensure that there is physical paperwork stating all the terms of investment.
Now that you have the information on what to do before you invest. Here are some investment opportunities you can start investing with as low as N5,000 monthly:
- Mutual funds
- Money market funds
- Real estates
- Treasury bills via i-invest app
- Invest in a friend or family’s business with properly drafted contracts
- There are also private investment opportunities where you get up to 10% monthly on commitments from as low as N50,000
Remember that you won’t get rich by hoarding money in your savings account or leaving them in a piggy bank. It is by investing.
A change in mindset would help you navigate away from societal misconceptions about being wealthy as a woman.
It would also help you overcome the fear of charging your worth for services you render or the good you sell. And as time goes on, you will see yourself making the money that you were long due to make, but afraid to ask for.
Like I mentioned earlier, decide on the type of investment you want and why you want it then go for a suitable opportunity.
Now that you are well informed about investments and how it can help you become wealthy, do you still hold any reservations about it?
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