Living the Dream or Struggling? The Wealth of Zimbabweans In UK.
ฝัง
- เผยแพร่เมื่อ 7 ก.ย. 2024
- Is the diaspora all what it is made to be?
What are your experiences?
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After many years in the diaspora and starting to think of retirement back home ,we ,(my wife and I) started to brainstorm different ideas.
We settled on free range organic chicken farming! 🥚🐣🐓😍. We will also grow organic vegetables.
We have lived in the United Kingdom for just over 20 years with our five children who were all home educated.
While living in the U.K we became very aware of food standards because food was not the same as what we had left behind.
Very early on we started buying organic food and wild fish. We would like to continue on this path of healthy eating and growing our own food.
The chickens will be pasture raised. We are implementing a permaculture farming method.
We will also be using the regenerative agriculture approach to help the soils get all the necessary nutrients.
We bought the land which had lots of gum trees which took a lot of nutrients out of the soil. We need to add these back using the regenerative agriculture approach.
We will use this platform to share information we learn along the way.
There was a pond on the farm which has dried out but we need to revive it as part of permaculture farming.
What is regenerative agriculture?
Soil health and the regeneration of topsoil (the surface layer of soil) are the main priorities of regenerative agriculture. Going well beyond organic farming, regenerative agriculture is a system of agricultural practices and principles that increases ecosystem health, improving nutrients in foods, which almost become a by-product of the planet’s restoration. Soil Heroes
What is permaculture?
It involves taking care of the earth and working with it. We will be using systems like rain capture and solar systems. Trying to be off grid as much as possible.
Here is how to calculate net worth: simple example: Assets:
Home value: $300,000
Investments (stocks, bonds, etc.): $100,000
Cash in checking account: $10,000
Car value: $20,000
Total assets = $300,000 + $100,000 + $10,000 + $20,000 = $430,000
Liabilities:
Mortgage remaining: $200,000.
Car loan: $15,000
Credit card debt: $5,000
Total liabilities = $200,000 + $15,000 + $5,000 = $220,000
Now, calculate your net worth:
{Net Worth} = {Assets}$430,000 - {Liabilities}$220,000 =$210,000
Great video with good lessons. However I disagree when you say “the way some people think about money is wrong. Not everyone wants to be rich. Some people just want to enjoy their money NOW. They don’t want the headaches of running business. Some just want basic life, affording basics and they are totally satisfied
Absolutely spot on, I'm in the same school of thought..
Excellent! This is the sort of info young people need to know. It really should be part of High school curricula as compulsory subject.
Thank you!
Well said!
Very good topics but on diaspora houses i beg to differ.. renting a house is actually expensive that you can equate it to your monthly mortgage. Its better the money goes towards your so called house. After 15-30 years of renting you will still need a decent shelter. A 3 bedroom house can be rented for 1500, mortgage repaying monthly will be innthe same region depending on the credit(whats then better)?. Cant you avoid inheritance tax by putting the house in “Trust”? If i see that i cant pay anymore cant i find a buyer who clears the bank debt and i get the balance without loosing totally as i the house would have appreciated in value? Food for thought
You’re right. To avoid the inheritance tax, you can put the house in a trust. Regarding the mortgage, the payments seem less because you would have paid a high deposit but i understand your logic, it makes sense.
@@beenhamo The person renting doesn’t need a huge deposit. They can use that to do other businesses. My friend just got a £150 000 mortgage with increasing rates, her mortgage is £1200 a month.
@@Nokutenda774there is equity appreciation in owning a property whereas with renting you have nothing, in a few years your friend can sell that house and walk away with a massive gain compared to you who rents, you will have nothing to show for it even after 10 years renting, actually you will have paid for someone’s mortgage in actual fact you have made them money!
@@obizvo5953 no, not always the case, if you have a business going you can then have a big deposit for your mortgage, profit is not always huge I am afraid. £1200 for a 150 000 house is expensive.
i just subscribed and turned on the notification bell. i like it here. rambai muchibata basa, this is splendid
Thank you so much
Good video, I will definitely share this with my growing children,
Thank you, I appreciate it
The UK does not make it was for people. When you get older your house goes to pay for your care. If the council feels you have given away your house to avoid this, it can still be considered as yours and will still be taken.
True and good point
The same thing here in Australia 🦘🌏
It only goes into pay for your care if you are going into 24 hour care. Panezveunokwanisa kuita usati wasvika stage iyoyo kuitira kuti imba isaenda. Plus it is not kuti “council feels like” Care Act ndiyo inotaura ma circumstances ekuti ma actions ako wamatora sei paku disposer ma assets uye ne mental capacity act. (Shona purposely written)
@@jamesndemera975 yes, but hakuna vanhu vakatorerwa here that’s the point. And how do you predict you won’t need 24 hours care in the future. I was a carer before and almost all our residents their care was paid for nedzimba dzavo.
You set up something called Asset Protection Trust. This will protect your assets
Hey brother.
You gave us good information. However, dont say I am sorry, this is what i think. People don't owe you anything so just present what you have and thats it. People will take it or leave it.
I am Zimbabwean watching from Australia and am a Coach.
Well-done on tackling such an important topic.
Thank you 😀
@@ruwaorganicI wish you had put you contact information I would have wanted to chat a bit!
Very informative piece of work. I will take that advice from today onwards
You're welcome. Glad it was helpful!
Great info in this video, keep on educating the people
Thanks, will do!
I am liking your channel mate.
Great topic. Keep bringing us these useful conversations
Thank you! Will do!
Well organized and informative , thank you.
You are welcome!
You have gained a follower, amazing stuff
Nice one you broke it down pump and clear. Thanks
very educative..thanx my brother
Good conversations indeed very eye opening.
I thought for a minute that were not going to comment 😅
Thanks for deciding to tackle financial literacy and I will be looking forward to learning more.
Sorry, Idisabled comments by mistake lol. Thanks
I think it’s just plain and simple “one should just live within their means” calculate your income and expenses and learn not to to impress anyone
Great presentation as usual. As feedback, double check on the editing of the video as some sections and sentences where cut at wrong junctures therefore incomplete thus the thought is kind of lost
Fantastic financial literacy lessons.. Those that have ears have heard, but majority will argue with you to justify what they are used to or their "NORMAL"
True, thank you
Africa seems backward by not having credit facilities but this protects people, kana usina mari dont buy.
True, indeed it is a protection
Good content. Earned my subscription
Very insightful
Glad you enjoyed it
Very very good topics and really truth.You are not rich but you are healthy and that is important.🙏🏾
Well said hama. I choose to learn than perish.
Thank you :)
Your video production is on a different level
Thank you
Mind keep it up
Thank you
Good content
Thanks for the lesson
My pleasure!
Great watch 💯
Thank you
Very interesting perspective there, but in my opinion the clever leverage debt to gain wealth so I think we need not be scared about leveraging ’good debt’.
I agree with you. The problem is that most don't do it to gain wealth.
The key word is good debt and also equally important knowing how and what to invest in.
Proper audio right there
Thanks
im benefiting from you . Thank you for this program
Informative man
Glad it helped, thank you
Thank you so much. Great topic, l have learnt a lot
Can you please tell me from your calculations where is equity? In 2016 I took out a mortgage of $280,000 with a down payment of 10% only ( so that’s 90% loan to value) and in 2021 during the pandemic I bought another house (family home now) on another mortgage with now a 20% down payment, turned around and sold the first house for $525,000 at the time my mortgage on the first home was now down to $195,000. Mortgages are only bad when you take out more than you can afford. Home values in the first world appreciate in value and that’s called equity. House Value minus mortgage = equity. I can borrow up to 80% of my current family home value and use that to purchase a rental property should I choose to.
spot on . Maybe Ruwa's $250k house is in the desert where there is no prospect for capital appreciation. As long as there is imbalance between demand and supply , in this case demand is outstripping supply, house prices will always shoot up . Your deposit + house price growth created by e.g inflation, refurb will definitely create room for equity .
i just subscribed and turned on the notification bell.
Real talk
Thanks
mdara u just gained a subscriber
Awesome! Thank you
Gud vision
The key thing is to understand cash flows. I lot of people fall for lifestyle inflation. I talk about it on my TH-cam channel
The title is Ruwa Organic Farm, BUT it is all financial advice. So where the organic farming? Can you change your title
I've been getting emails from many people asking for information on how I did it. Its all part of the process. When the farming activities start, there will be a lot of videos about it.
Thanks. This is an excellent lesson. Debt makes us poor. We can see this happening on a global scale. Not just individuals but countries world wide.
The only debt that makes us rich is to our families and societies. Zimbabwe is such a rich country with a small hard working population. We should all have at least the basics. Why do people need to get money from other countries pensions? Zims has everything and yet we can't see it! Many in the diaspora have alot of good to contribute but law and order, without corruption is needed. Thanks for sharing your riches with us. May you continue to prosper.❤
My father used to say if you can’t afford to buy it cash then you don’t need it. My father never bought things like furniture on credit and I am the same. In the UK, some people get credit from children’s toys , furniture, clothing and the car they drive on top of a mortgage. However, in my opinion it makes sense to get a car on finance because a car depreciates. You pay 20 000 cash today and after a week it’s already depreciated to 19 000. No wonder why there is no genuine happiness in the UK, people are bound by credit.
Read more economics books and discuss with your Financial Planner or advisor how to use your borrowed money wisely and make gains on it .
@@obizvo5953 that’s why I mentioned credit on clothing and furniture. If you can’t afford £200 trainers. Why do you need them on credit.
That's lack of financial education which is the main problem. Borrowing money to pay for liabilities is a bit silly. I use debt to make money. Borrow money to fund cash producing assets. One thing for sure, Assets put money into your pocket ,whether you work or not but liabilities take money out of your pocket.
@@makabenikaNyathi yes but the problem with UK is living expenses are high. All the money goes to bills and food that’s why they live on credit.
I always tell people that Mortgage is a scam. You are trapped till death.
This is not always the case if you buy young.
@@momowekwa6899 we talking more about our people who moved to the UK when they were already adults with families.
It really depends on your financial circumstances. I know sine people who took out a mortgage for 10 years abs still save a lot every month to invest in the projects back home.
@@cleodontina1 I understand, but to say mortgage is the only way as people think is wrong.
Its not a scam because the value of your mortgaged property will appreciate in value while the value of your debt is eaten by inflation . If you decide to sell your property, you will get your deposit back + profit created by capital appreciation .You buy a property today for £150k , in 10 years time , the same property will cost at least £200k. That extra £50 created does not belong to the bank, it belongs to you , its yours your!
how can i link up with u sir ?
Uchirikuita ma Videos e DIVI Themes here?
Yes, check my other channel.
bro what book did you read?
The millionaire fast lane
Someone I know earns 21K a year but went on a £8K holiday 😂
lol
That's what the government wants. They want people to carry on working and paying taxes until they die.
Ok so this guy is now a TH-camr ?
I have been a TH-camr for over 15 years