Don’t buy a car, build a house, buy land or invest in anything if these things are not clear to you
ฝัง
- เผยแพร่เมื่อ 4 ก.ค. 2024
- If you are about to invest in anything , have you asked yourself those tough questions? This video will change the way you view investments
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Good morning team LNN
What is your take home from today's conversation with Waithaka Gatumia?
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Thank you for watching❤❤
I’d be retiring or working less in 5 years, and considering this financial recession, I’m curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
That's over 20k a month bro you either have some unnecessary expenses such as impulse buying check on that.
You need to write down a monthly budget of the things you really... really need besides the usual bills and cut off what you actually don't need and also keep in mind on how much you can save. Let's say for example your monthly budget is 3k and end up spending less and you got some change, have a good smile cz you spent less than what you had budgeted for but it doesn't mean the change you got you must spend it on something just because the budget was 3k
@GregorFallon you still have a lot to do congratulations 👏 you have reached the first bold move acknowledging that you need to change.
It will involve a lot of sacrifice, discipline and dedication towards the goals you desire to achieve.
Begin with a budget, vision board, skills you have that can give you an extra income. Start with monthly, bi-annually and annual goals but also remember there's a wellbeing circle ⭕ to help you achieve it.
I would be glad to help you out as an investment banker and personal finance strategist.
Wow...its not too late..
I came across Dave Ramsey videos on TH-cam about managing finances and kept reading people's comments in the chats and my life changed. The key thing is start budgeting, leave below your means, have an emergency kitty saved ( in case you are not working, 6 months living expenses, save it maybe in a moneymaker fund), etc. He calls them babysteps, I have started, I am not there yet only wishing j would have known this early
Wow ❤ a wonderful conversation
I see Rich dad poor dad and quadrant cashflow (Robert Kiyosaki) in this guy, this is all I read in the two books and totally we need this education from childhood. Congratulations to all of us watching this interview because life will no longer be the same❤
Growth only happens in discomfort 🙌
When you are uncomfortable it causes you to solve problems.
Apart from Mpesa transactions, watch how much you spend when you use a debit or credit card as opposed to cash? When I pay using cash, I only spend what I have on hand. When I use a credit card, I end up buying much more than I had budgeted for.
This is so true
Am sorry to say this but I wonder: why these wonderful brains can't be in our government to rescue our Nation? Lynn our nation is blessed with wise people like you and your guest! May God use you always to open people's minds. Say hi to that wise man 🥰🎉🎉🎉
This life no balance 😢
Hawawezi ruhusiwa na the greedy leaders we have currently
These are theoretical knowledges.
Most commonly found in Africa.
Practicals will always rule.
They are there, but they become sycophants
@@sonbirdgenerals6952wisdom is listening and picking bits and pieces to help you. Wholesale Criticism is just a negative self harm. Just listen.
Wow I am so gratefull kuwa hapa Lynn aksante kwa mgeni huyu
My experience a bit kwa watoto wangu huwa nikiwapa hela kuna challenge nawapa kila wakienda shule @ mmoja nikimpa Tsh 500 kila mtu asave anachoweza then at the end of the week kila mtu atasema amesave kiasi gani natop some money kwahiyo the more you save the more I add hivyo wanashindana kusave.
Sasa hivi nawaza kuwafunza kuinvest kulingana na wanachotaka kufanya God Help me
Safi sana
Learned😉
He's telling the truth when he advices people to invest in personal finance classes and buy books on personal finance. When I got my first professional job in America, I read several books on personal finance, watched hours of advice on personal finance and its really paid off. The lessons I learnt have put me ahead of people making double what I make. It was all worth it.
What are some of the books that you read?
Waiting for the answer too.
@@irenemukumu6721 Dave Ranseys books are the best if you're just starting out. Suze Orman also has very good books on personal finance. David Kiyosaki also gives great advice on investing. They're all old school but I haven't found any other authors that offer better advice. Dave Ransey also has a radio program thats very popular too.
@@brayanwafula6964 Dave Ranseys books are the best if you're just starting out. Suze Orman also has very good books on personal finance. David Kiyosaki also gives great advice on investing. They're all old school but I haven't found any other authors that offer better advice. Dave Ransey also has a radio program thats very popular too.
@irenemukumu6721 kindly read 1. "The psychology of money" 2. "Atomic habits" 3. "The magic of thinking big" you'll never be the same again.
wow, I'm watching from UK and I'm learning a lot from this gentleman. Lyn thank you sincerely for this show. I' originally from Ghana.
Some of these lessons should be taught in high school. Equip the kids before they face the world. Love the show. Lynn you are AWESOME!!
"solve the problem of the lifestyle that you want" exactly, Sir.
From my heart, Kenyans are very smart than we Tanzanians.
You people are really blessed 💪👏👏👏👏
TZdians are smart too.
Not really, it's just because no one is giving them"great minds"a platform..late president Magufuli was great.
@@dwamburu1Exactly. They are. I've been traveling to TZ and have met several TZians and they are doing great 👍🏼
This is an interview I will listen to once every month as a way of reminding me of my goals
I am a beneficiary of centonomy and one thing you did Waithak is to change my mindset. I am forever grateful for this enlightment
Hi we celebrate you our alumni and ambassador.
Smart, intelligent intelligent mr waithaka gatumia 👌
Financial literacy is something that a multitude of individuals in many nations and cultures are lacking. Except for a few nations, Most only know how to Spend money instead of make money and keeping it in the family. Many businesses have failed or been sold off immediately after the parents pass away and those parents worked hard to create that legacy. Many individuals also have a business that makes money But they spend the profits like water on a daily basis to show off to other people, hence the business collapses. As well, JEALOUSY of others success' WILL Always keep the jealous one down and poor. If even anything comes to the jealous person's hands it will disappear as quickly.
"You cannot shrink into greatness"....
Buying shares in different companies,real estate,government bonds . A house you own and live in is not an asset. An asset is something you own and it generates cash either monthly
Waitheka never fails Thanks Lynn for choosing perfectly
It’s also okay to live in posh expensive house. Not everything has to be penny pinched lol. Live this little short life to the fullest while also paving the way for the next generation.
People end up investing and not even enjoying their money only to realize time is gone and have no energy to be adventurous. Time also matters. When you live longer, you start appreciating the time you spent enjoying your money😋
@@ruthn9381 exactly!
He said it well, it all depends on your end goal, and for some people it's to enjoy life today and that's valid too. Enjoy life to the fullest, then retire with little to nothing. Someone else will choose to live below their means and live comfortably 10-20 years from now. These two people are right, it all depends on what you want.
Our parents really drilled saving for the future in us. We really took it to heart. We save more than spend
Also, along with setting goals, controlling money, saving money, becoming uncomfortable One should remove/separate from the friends, family or groups you are around IF those people keep you down or keep you from your Goal.
True.
Beautiful Lynne I can attest that Kenyan education system is high because we abroad are two years higher than the other countries. We can handle two jobs with academics and we thrive abroad. I am effective in five languages. The area that should be emphasized in Kenya is simplifying Science. We have the educational manpower. We are on the map. We just need to catch up. Love from Philadephia Pennsylvania.
This man is hoozing wisdom. I can listen to him over and over all day. I have built houses, I have bought lands but I am yet to buy a car. I'm in my early 40s now, and I'm doing all these coz I don't want my kids to go through what I went and build a wealth for them.
Good for you. For us we prioritise other things like building rentals, buying a car before building a house which is a liability. Whatever works.
I see a Finance minister in this guest Lynn...such are the leaders we need.
It's true you don't need a great education to become successful. My brother is almost a billionaire and he only has a high school education. My siblings and I have masters and PhD but it will take us years to catch up with him
Another day to learn,team LNN thanks kwa kutuletea masomo bila malipo 😄😄.
Earphone kwa sikio simu mfukoni kazi nachapa nikiskiza.
This is the best conversation i have listened to this year my people listen keenly n take notes make sure whatever you invest in it brings back something(money)
I love the way Mr. Waithaka has clarified about saving and investment, budgeting and how personal financial books can change ones life.. It was such a great show ❤
Wow Lynn I can listen to Mr Gatumia everyday,he is thee Best teacher that I wish to be in his class how he explains flawlessly is amazing even the examples make perfect sense to me. I honestly enjoyed this episode ❤❤🔥👌👏🙏🏿🇿🇦
We are together here 🇿🇦
"Solve the problem for the lifestyle that you want" kudos to our guest
One of my best when it comes to money matters Waithaka Gatumia and the whole team Centonomy 101 salute
Glad you are enjoying the episode 🙏
thank you for the affirmation
He is a very Money Concious Man and he will live comfortably if he continues like that
When it comes to owning a home, it depends on which country you live in. In America, rent is so high that you will be better off living in a house you own than renting. I sold my house after divorce and my rent is almost double what I was paying for mortgage. Now I have less money left over to save for retirement. Here if you own your house when you retire, you'll only need to worry about taxes. You get social security and most of us also have 401k so you'll be set
What is 401?
Exactly and rent goes up every year. I’m happy paying mortgage
@@pendoscott3593 true, and if your water and sewer aren't included in the rent payment, they charge you a different amount monthly and it keeps going up too.
Move away from the city na uende ushago ya America
@@ichooseviolence2532 this is where the jobs are. The ushagos here are also becoming expensive since everyone is moving there. Also, driving to my job would take me 1.5 hours if I moved. Hopefully I can buy another house soon
The guest is powerful in his expertise. His mind is open...
Very informative!
Big Take Away “Pay Myself First.” Thanks Lynn for bringing us the guest
Mr. Gatumia that conversation is an eye opening conversation. Thank you Lynn for this because I usually say why get married, why have children that you do not know even how you are going to raise them, how you will cater for their studies you literary do not even have plan for your own life. Where we are at we cannot afford to live life ati ya kubahatisa.
There will never be perfect time, like he said 'growth happens when in uncomfortable situations ' once you have the responsibilities, they will push you to earn more. Thank me later.
This conversation is a lifeline. Knowledge is power!
Your guest talked about Africa innovations like the pyramids. I would like to add the aberisk of Ethiopia which for the longest time had been taken to somewhere in Europe.
What a Masterclass 🎉🎉🎉 Thank you Lynn for these basic lessons that one needed to learn in their youth. But like they say it's never too late to learn.
Thank you so much. It's true, our loving parents really failed us when it comes to finances. I used to get Ksh 10/day for lunch and I would save my money to use for whatever little items I wanted for myself. I am teaching my children about saving/putting aside money, it might go in one ear and out the other but at some point they will remember.
It's how he looks at you with a smile on his face and admiration that I loved in this interview. He acknowledges your good work by all means. Thank you to both of you for this information, much wiser money matters. ❤❤❤❤
What a timely conversation, I appreciate it. Thank you
If I knew this before, I will become a celebrity with lot of assets. However, I learned a lot to change my strategy and start from scratch.
Thank you so much for sharing your knowledge Brother.
That's very true, I live in 🇺🇸 and mpesa is unheard off,informative.
Financial illiteracy is the main letdown.Not hw much one earns but what u do with wat u earn makes the diffrence,.mehn this guy has said it all n he is absolutely correct.
Thank you Lynn and the guest you have no idea what you done to me with this conversation
I am learning alot lynn thanks for bringing the guest
People have to change their mindset about migration especially to the cities within their country.
I should leave an inheritance to my children's children's
Thank you Lynn for bringing the Gentleman to speak
They should struggle the way we struggled!!! Very common and very wrong! What does the Bible say? A good man leaves inheritance to his children and to his children's children!" As long as it's wealth you worked for (blessed wealth) and not stole....the Bible calls you blessed!
It’s Simple but not easy…. I’ve done the classes ,still working on all that I learnt!!!
We celebrate you Naomi for being our alumni
I'll add 2 interesting things.1) Mobile money surged in Africa because our banking systems were so discriminative and non existent in some demographics , so the switch was very easy. 2) Have met 2 key payments processing business leaders owners in Australia- white . Both with vast African experiences/ backgrounds. Africa is a hotbed of leading thoughts and innovation. Anyone moving abroad, please move with an open mind, you can use your experiences out there to do things very differently. Not always the other way round
to me, this ia among the best interview, we need him back
Thanks Lynn I am an X and this a lesson I HV never had/heard,...the guest is a super teacher ...
This one hit hard...I have to enroll.well done lyn and the host🎉
This was very knowledgeable and eye opener to our financial goals and investing, bring more educative people in your show Lynn,thanks for bringing coach Susan now Waithaka, you have helped alot of us to move out of our comfort zone and have a different mind set.
Watching from Tbilisi, first thing in the morning.
Thank you for bringing this man on the show, Lynn
Hello Lynn , I love what you are doing talking loud about our country. ❤❤❤
You have changed my life l just love the conversation
No regrets for watching this
Thank you LNN for these message it got me the right time
Lynn dadangu, here is a book that will help you help Kenyans. It is a small book that is all meat. “THE RICHEST MAN IN BABYLON”.
Everything they have talked about, the full episode is in THE RICHEST MAN IN BABYLON. This book is the secret of richness
One of the best reads.
Yes, and all existing and perceived investment channels are all in it. A book way ahead of its time.
Very educative info. Thank you Lynn and Gatumia
I'm literally drinking this conversation because it's nothing but the truth! Am in France and my goal is to come back to motherland and start a business ❤
Thanks to today’s Guest. Knowledge is power.
🤯.... gosh, thank you Lynn. Mr Gatumia is smart....
Waaaah
Lovely lovely
Hii ni ya kuskizwa tena na tena ukitenda
Lynn i love how you ask the questions. I feel like you are in our minds because its what we actually want to know.
Great mind,when you have a goal you know the kind of investment to go for.Lynn you may also combine this wise man with Pro.Paul Kibicho and its gonna be more better.thanks for the show.
Thanks Lynn for this great topic keep going girl
I really love you Lynn am not where I was when I started watching your stories ❤❤❤
Today I'm early, ready to learn and grow even before watching the whole episode.Thank you Lynn
Welcome home Rose❤
This gentleman should be our next
I don't even get time to read books
Because all the time i find myself watching Lyne show ....so enlightening
How are you,lynn be bkessed that u ask the questions for me ,tell Mr Ceo im bitting my fingers couse i found my self
It is true most of the time we don't have the outcome of our investment, I have added knowledge on finances, thanks for the conversation.
thank you linn for this conversation
Really enjoyed this.Thank you for educating us.
A very great conversation. It has done me good. Keep going our girl Lynn. Feel well appreciated 🎉🎉🎉❤❤
I love this conversation it has really helped me thank you Lynn
Wow, loved this conversation. It has really inspired me
Thanks for Educating me ❤
Growth happens in discomfort 👌
Lynn noma sana..bring him again
This are people we need in our country to enlightened Kenyans on investment and financial discipline.....
I think this is really for me thank you Lyn for this insightful talk show.
Big hug to you Waithaka, you have taught me alot about money and wealth, Lynn awesome interview
most welcome
I've enjoyed the episode snd learned alot as well.. Thank you Lynn❤
A very insightful conversation.
Very educational show Lynn
God,show me ways of getting money so that i can visit maridady and king's developers one day
Did you listen and took in what the guest was saying?
@@nganganjoroge6357 this was for the introduction part not for the whole story
@@nganganjoroge6357 that👆👆 comment was for introduction part of Lynn
Your very wise .may God open your door
@@user-qo3di6ly2o thank you
Lynn Cruz ship to France is not too expensive. Just book at the right time. It depends on the currency you earn. Beautiful talk more like rich dad poor dad. The richest money in Babylon
good job.
hope to get a full class training.
Wow over the years where to put money has changed. First savings account Mutual funds Roth IRA
The Bible instructs us to save. I wish I could help.
Wow use all of it. WOW
I understand you so well about inadequacy in communication among the teenagers n youth .. n this is so saddening..am a high school teacher n am telling you we have a challenge in communication due to the influnce of Sheng.. I wish this kids can only know the importance of good language
I listened to this guy talking to us in my sacco about asset and liability. Your own house is a liability 😮😮😮😮😮
Haiya ,we should not rush to owning homes
Now this is the kind of content GenZ should grasp...
Very practical practices.