How much is your salary? – Building wealth as an employee

Photo credit: Silverbird TV 8 September 10, 2018 By Dang

Not everyone can be an entrepreneur but you can build steady and gradual wealth with discipline and precise decisions. See below my experience while I was in paid employment:

1. Invest:

I invested my savings in guaranteed funds/ money market/ Stocks

2. Be Frugal:

I did not spend much, I refused to be put under pressure by the success of other friends. I did not travel for travelling sake, I did not buy anything I didn’t absolutely need.

3. Side jobs:

With the permission of my boss, I consulted for other companies, always keeping in mind to put my employer first, ALWAYS.

ALSO READ: 3 Tips for Anyone Who’s Tired of Trying to Make New Habits Stick

4. Be creative:

Whenever I travelled for work or leisure, I asked my colleagues what they wanted to buy. I especially tell the comfortable bosses and MDs I’ll be adding 5-10% for my trouble, I make sure to get tax refunds and as soon as I get back to the country, I put all my earnings back in investments.

5. Go the extra mile:

Work smarter than everyone else. Before I resigned from my first employment, I worked smarter than everyone else, did what no one else wanted to do and burnt candles to read up on what I didn’t understand. I became really hard to replace. I got promoted pretty fast and my salary was increased 3 times in 18 months.

6. Be careful about lending money

As much as you can, don’t lend money twice to those who have a habit of not paying back. Give them what you can.

7. Invest in start ups:

I also should have invested in a former colleague’s business, I didn’t, now he owns 20 filling stations in Nigeria. If you have an opportunity to invest in a start up, please do so. After conducting due diligence of course.

BOTTOM LINE: When I resigned, I decided I wanted to earn FX on the side, I liquidated 60% of the investments I made during employment, into investing in a foreign country and now I earn FX monthly.

NOTHING SHOULD STOP YOU FROM BUILDING WEALTH. WHETHER YOU ARE A SALARY EARNER OR AN ENTREPRENEUR.

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8 comments on “How much is your salary? – Building wealth as an employee

  1. Nini

    Thanks so much for the article, I need more clarity. Can you Pls give examples of the various funds and money markets you invested in and also tips on how to earn in FX.




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  2. jummy

    thank you for this. it really made me know that i can still come out of my debt and still have savings this year.




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