Saving

If you put aside Ugx 100,000 monthly, into an account that generates 10% interest every year for the next 30 years, you would have Ugx 251,869,000.

At that time, you would be one of the richest Ugandans alive.

If you are 25, you would be 55 then.

If you are 30, you would be 60 then.

Remember, only Ugx 100,000

Here are three places that earn annual interest of about 9% to 12%

1. NSSF Smartlife flexi

2. Unit trusts

3. I would add treasury bills and bonds here, except that they do not have the option of adding to them monthly.

So, what to do?

1. Go to the NSSF website and open up an NSSF Smartlife flexi account. You only need Ugx 5000 to start.

2. Go to Old Mutual website. Click on the “Call Me” option. Tell them you’re interested in investing in Unit Trusts. They’ll get you in touch with an agent who’ll send you the paper work and you’ll be set.

Remember, the biggest lie you have been sold is that wealth comes quickly. The truth is that it comes slowly, grows over years, and it is neither noisy nor flashy.

Proverbs 13:11

Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time.

Img: wealthfactory.com