5 ways successful people think when investing in Nigerian Mutual Funds

June 11, 2023

Short story by Steve Donald. (Real identity withheld)

My uncle promised, just like he always did, he would give me a bar of chocolate and a #500.00 note (mint) if I took the day’s newspapers to Mercury Towers. Mercury Towers is a high-rise complex housing large media, finance, auto dealerships and legal offices. I did this every Friday. At this particular time, my uncle also gave me an envelope and said “ask to meet with the Chief Security Officer of the facility. He’s successful. Give him the envelope and he will send a reply.”

I moved into the magnificent office swiftly and was advised by the footman. “You will find him in a suit.” I had ten seconds to spot him and hand over the envelope, but since he was surrounded by other men in suits, it wasn’t an easy task to spot him. I apologised, walked out of the office and asked the doorman to help me identify him. Right away, he said, “you will find him with a bowl of fruits in front of him; the rest have bright sugary cereals.”

Success is never accidental

Simply put, successful people’s lives are measured by what they do with their time in general. Over the years, human beings have been wired to think that who they turn out to be is mostly as a result of how hard they work. With so much emphasis on hard work, the outcome is dissatisfaction with oneself. Why? because hard work alone is not enough to make one successful.

Just as the former CEO of Twitter, Jack Dorsey, put it, “success is never accidental.” This is one major quote, people who turned out to be successful lived by, knowingly or unknowingly, spoken or unspoken. And that is why, the majority of those who are successful today, had a desire for success. They were focused on interests, hobbies, and activities based on the parameters they used to define their success.

So, for men in suits, no one says that indulging in a bright sugary cereal for breakfast is especially bad, but we are tempted to believe the successful man would rather be with a fruit bowl for breakfast. Why? His choices are usually different. “We shall know them by the choices they make” should be a new quote directed at spotting successful men. And just so you know, their lifestyle choices are not limited to food, this is because they have made money, and as such, they are able to afford the good things of life.

What rocks their boat?

Investing their money in the right resources. Resources that are guaranteed to yield the best returns, thereby multiplying their wealth. It all begins with investing in Mutual Funds. But to be more specific, Nigerian mutual funds. We will highlight below what they know and how they think. Please take a cue from them.

1. Risks are not frowned upon

For successful people, most of their lifestyle decisions are thought out. For them, it is better to take calculated risks than not take any risks at all. Sometimes though, the outcomes may not be as planned, but that gives them the opportunity to gain knowledge and forge ahead to the next big mission. They are not afraid of failure, nor do they have time to sulk over an investment gone wrong.

Moreover, since mutual funds usually have each investor share the gains and losses, proportionally, this might not seem like a bad deal for successful people.

2. Passive income is profitable

Because of their busy schedules, most successful people would prefer an investment that does not take up much of their time and that requires minimal labour.

Since mutual funds are operated and managed by professional money managers, this reduces worry on the investors, allowing them to spend more time on hobbies and interests that further pushes them to pursue other sources of wealth. When it is time for pay-out, the fund manager can allocate the gains to the investors.

3. Greed is good

According to Bing, Greed is defined as an intense and selfish desire for something, especially wealth, power, or food. But for the purpose of this article, we choose to focus on ‘’intense” and “something.” Why? Because that is how successful people have been able to get to the top. The intense desire to achieve something, and not backing down until it is achieved, is what makes difference.

So, when considering what you should invest in, remember that successful people despite having other lucrative investments still grow their wealth by owning mutual funds which gives them more income streams.

4. Generational wealth is the “new black.”

If there is one thing wealthy/successful people master, that is the art of leaving behind a large estate for their children and other generations to follow. For inherited wealth is real wealth a man can leave behind for his children.

And because, inherited assets like mutual funds allow for a favourable tax treatment called a step-up basis, this could be a win for the man we love to refer to as “successful.”

5. Because it’s a game!

Some of the people who invest in mutual funds may even see it as a game! In the end of it all, they just want to live life to the full and try various options. Every decision that is taken cannot be done by adopting a strict approach to life. Sometimes, it is just a game and those who win, win.

But bear in mind that when a fund’s value increase in price, their mutual fund shares can be sold for a profit in the market. We call that playing smart.

And Nigerian mutual funds?

In conclusion, we can agree that you don’t have to dress daily in a suit like the men at Mercury Towers to qualify to invest in our mutual funds, however, our primary aim is to ensure you become successful, investment wise.

Just start investing at the level you are now! Within a short period, you will be surprised to notice that your financial and general status have changed to conform with your success stories.

Now is the time to start! Grow and become financially strong with Coronation Mutual Funds.

5 ways successful people think when investing in Nigerian Mutual Funds