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N1 million sitting in a bank account in 2020 is not more valuable than N1 million in the wallet. But it is possible to change the status of N1 million to generate a stable income in Nigeria if you know where to invest.
Most investments fall under the fixed income or variable income clause. A proper guide to the right investments is the handle that says which one you need. Here are smart ways to grow money and to invest in N1 million in Nigeria now.
Invest N1 million in Stock in Nigeria
Without the help of a stockbroker these days, anyone can venture into stock trading both locally and internationally. Register with an online broker and read about different company stocks. Also, read about which consumer goods is best to invest in now. Start small and scale up in the future to have a weighty and healthy portfolio.
Self-Invest
Many people do not consider self-investment a thing. Some will always expect someone else, like parents to invest in them. However, it is a self-growth decision and can never be overrated. Take online courses, learn new languages and skills which are useful for travelling and seeking new jobs.
Robo Invest
This should probably have been the first investment to venture into at the beginning of 2020. You can trade with a Robo advisor virtually and anywhere. While adhering to the regulations of the country they reside, they will help you put your money into good use.
Robo advisors do most of the investment job with taxes and account management all put into consideration. Switzerland, Singapore and the U.S have some of the best-rated Robo advisors firms.
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