Hi GJ today I joined as viewer 262 simply because I had gone to church very early.Thanks for you're informative,highly appreciated financial services❤❤❤South African citizen
Thank you Good Joseph, to me it started as theory, now am on my way to a million in investments... and I never worry abt finances coz am now financially literate 👏
Buy 1.5m land 5 years later at the same price? Delayed gratification, accumulated appreciation and inflation rates... I am not paying rent but when I used to I paid from my salary. Paying is paying regardless of where the funds are coming from... Honestly sometimes its hard to follow these principles!
The problem here you assumed inflation rate,you may have 2.5m now but that can be equal 5m after 5years,means that what you were to buy with 2.5m that year after 5year it will cost 5m...now that what i call back to level zero 'money laundering' its hard to trick these system..you better buy land it will skyrocket.
Inflation in Kenya typically ranges between 4-7%. As long as you invest in a product that yields above the inflation rate, you’re in a good position. Additionally, unless the land is in a highly strategic location experiencing significant infrastructural upgrades, its appreciation will likely be between 5-10%. Therefore, it’s essential to ensure your money grows at a higher rate. As Joseph mentioned, most Money Market Funds (MMFs) in Kenya currently offer returns that exceed both land appreciation rates and inflation.
I agree 100% coz the world is moving so fast that investment options and dynamics are equally changing to new better ways like the MMM of course prone to risks.More virtual, with higher risks but a times one may make a fortune.Thanks.
@@tolajectone6332 but on the verge of opportunity cost he wins, even with the inflation rate at the time he will not struggle coz the investment plough back will have cushioned him.
@@wanderinderituh459 he talks of what you get after the deductions of all the above. He talks of profit alone. I have a money market fund account, so I am speaking from experience
Tax on MMF interest is 15 percent (withholding tax). Most fund managers charge 1.5 to 2 percent management fee per year (percentage of assets under management). Joseph is right about MMF being one of the best investment options.
Hidden Taxes? What do you mean by hidden tax? The amounts credited to your account are net of tax (15%) and that's the final tax. MMF tax is 15% T bills 15% Fxb 15% or 10% IFB Nil.
I like some of the videos. This one i will highly challenge. Someone took 34 years to get 2.5m. How long do you think they will take to accumulate another 2.5m..... before you are 40 play one game only. Doubling your money. Whoever gets more doubles in the shortest time possible wins
Please so that I can continue voting everyday,,, you have been my teacher for long, true is that umenitoa mbali hata kama unijui but elimu Yako I can't afford to pay,
@onsantee.7065 haha ikr, it was a slip of the tongue I guess juu after listening to the full video I realized at some point he divided the amount by 12 to get the monthly return. So its per year
@@martinmaina22I love financial math so allow me to elaborate. The example comes from a 34 year old man with capital of 2 5 million so GJ suggested he put his money in an MMF which yields an interest of 13% per year. 2 500 000 x 13% = 325 000 subtract 15% withholding tax (325 000 x 15% = 48 750) subtract 2% management fee (2 500 000 x 2% = 50 000) You will clear 226 250 by the end of the year. On a monthly basis this works out to 18 854 which allows you to pay your rent of 13 500 per month with a remaining balance. Which answers the initial question posed in the title of the video. The building aspect he goes on to elaborate can work if you do not use the interest earned to pay rent but instead invest in materials and build your house over a period of 5 years. Bear in mind, the initial capital investment of 2.5 mil is held in an MMF account which you would use to buy land once you withdraw it.
Did you mention 1M MMF gives a return of 130K per month then a house of 10K I should have invested at least 1M? Please correct me if I'm wrong. Cant 1M investment give you at least a comfy house for 50K while ploughing back the 80K in this rate 13%
Please clarify, is interest given per month or yearly. Am in a Sacco and they give us on yearly basis. Advice appreciated. Am daily follower. Be blessed.
At the 7:01 mark you said with 1 m you earn about 13% per month and then at the 7:15 mark you are dividing the 300 interest by 12 months again! Please clarify on that
This is really not a problem. I opened all my MMF accounts, I trade stocks, and have a dhow csd account to buy government bonds, all while abroad, and am still investing in them. Just do your due diligence, then decide which ones you want to invest with. Google how to do so online, submit your KYC details online and that is it. Then keep investing going forward! 😊
Kindly make me understand why you guy's preffer mmf over treasury Bills? Please also tell us about mmf taxes + fund manager funds(2%), its always good to give the correct figures
When you register for an mmf,they will always give this details.The management fees is 2% across all mmfs.There is also withdrawal tax each month.This is also in the details before registration.
evopolls.com/polls/RECZKC Click the link to vote me as the financial coach of the year!
Voted & congratulations Joseph!
Continue sharing the wisdom that's never gotten from school.
You are super genius on matters finance!
@@nickgtomic8447 it's by the Grace of GOD
I meant the 130k per year not a month. A little glitch there.
@@njunjiedwin7343thank you very much
Every morning listening and learning daily to this genius
Hi GJ today I joined as viewer 262 simply because I had gone to church very early.Thanks for you're informative,highly appreciated financial services❤❤❤South African citizen
Church is also important and necessary
Thank you Good Joseph, to me it started as theory, now am on my way to a million in investments... and I never worry abt finances coz am now financially literate 👏
@@helekiahonyango1197 oh, that's great. Glory to God
Thanks for enlightenment,we are baby stepping too .more grace to yu
Thank you Sir watching from Saudi Arabia this is encouraging ❤
MMFs earn interest PER YEAR. So divide that 130k by 12 to get monthly interest.
HE did. HE initially mis-spoke but the calculations he does are right.
...."for those who know me, know what i'm talking about'....🤣
~Good Joseph
Today i have learned the best lesson in my life be blessed Joseph
These is the best advise. I will follow it 100%
Watching from Uganda as always..
Buy 1.5m land 5 years later at the same price? Delayed gratification, accumulated appreciation and inflation rates... I am not paying rent but when I used to I paid from my salary. Paying is paying regardless of where the funds are coming from... Honestly sometimes its hard to follow these principles!
My God, this is amazing i must try. Thanks good Joseph
its good advice but what about time value for money.if you didnt buy property now how much will it cost you to buy same property in future
Thanks Joseph!
Your videos are very practical. Kudos
Good work Joseph
The problem here you assumed inflation rate,you may have 2.5m now but that can be equal 5m after 5years,means that what you were to buy with 2.5m that year after 5year it will cost 5m...now that what i call back to level zero 'money laundering' its hard to trick these system..you better buy land it will skyrocket.
Inflation in Kenya typically ranges between 4-7%. As long as you invest in a product that yields above the inflation rate, you’re in a good position. Additionally, unless the land is in a highly strategic location experiencing significant infrastructural upgrades, its appreciation will likely be between 5-10%. Therefore, it’s essential to ensure your money grows at a higher rate. As Joseph mentioned, most Money Market Funds (MMFs) in Kenya currently offer returns that exceed both land appreciation rates and inflation.
I agree 100% coz the world is moving so fast that investment options and dynamics are equally changing to new better ways like the MMM of course prone to risks.More virtual, with higher risks but a times one may make a fortune.Thanks.
@@tolajectone6332 but on the verge of opportunity cost he wins, even with the inflation rate at the time he will not struggle coz the investment plough back will have cushioned him.
Hehe did you like the video 😅... Cammon hit that like button 😂... En i did smilling ❤
😅
Exactly what I did. Such a genius 😂
Same case😂
All the way From Namibia. Thank you
It is what it is 🤷🏾♀️ thank you Good Joe
Good maths but when writing. The ground is different. as one can lose money in an MMF through market risks
@@Andrew_Mwinga don't invest then
@@goodjoseph220 😂😂
Its good to know that you have more than a million liquid cash right now,you are good company
MMF is 🎉 the best way to fund lifestyle
Good joseph,how about inflation and cost of construction going up...
Good joseph your doing a gd job surery
Watching you from Ghana
Please always advise on hidden taxes in mmf and all investments.
I still don't know why they don't tell people about mmf taxes and fund manager fees
@@wanderinderituh459 he talks of what you get after the deductions of all the above. He talks of profit alone. I have a money market fund account, so I am speaking from experience
Tax on MMF interest is 15 percent (withholding tax). Most fund managers charge 1.5 to 2 percent management fee per year (percentage of assets under management). Joseph is right about MMF being one of the best investment options.
Hidden Taxes? What do you mean by hidden tax?
The amounts credited to your account are net of tax (15%) and that's the final tax.
MMF tax is 15%
T bills 15%
Fxb 15% or 10%
IFB Nil.
Fault finders will even find Faults in paradise.
Tell us about mansa-x
Thanks Good Joseph for your financial literacy videos
I like some of the videos. This one i will highly challenge. Someone took 34 years to get 2.5m. How long do you think they will take to accumulate another 2.5m..... before you are 40 play one game only. Doubling your money. Whoever gets more doubles in the shortest time possible wins
Five years later properties that were 1 million will probably be 1.5-2m
Sure...the land will appreciate..so it will cost at a higher rate,plus the cost of construction will go up....
Constructing a funny thing somewhere. It hit me hard
@@brianosimbo with all the due respect
Thanks Joseph, could you share with me some of the high performing MMF?
I love this one paa
What is the most trusted MMF in Kenya?
Hi good Joseph nikivote inaleta turelabs developers ni kweli niendelee kuvote🤷
Please so that I can continue voting everyday,,, you have been my teacher for long, true is that umenitoa mbali hata kama unijui but elimu Yako I can't afford to pay,
Yeah, vote
You can alternatively date or marry a Kenyan lady 😅 Your problems breathes their last 🎉
Good content bro
Please buy a duster ..I am a teacher... 13:18
I have been folwing you.
I beg to differ,13% of a Million will give u 130k per Annum not per Month check your Maths...
Which MMF gives 13% a month
Good joseph MMF is not allowed in ma religion becouse of interest. Which other business one can embark on to profit
Good advice sir thanks
This approach does not allow you to capitalize on the appreciation of property, which can be up to 30%.
M your tiktok follower
Is that mmf percentage annual or monthly? Please give me examples of MMFs that give over 10% per month
It is annual. He admitted it was a slip of tongue.😊
Wait a minute, you say that 1 Mike in a 13% mmf will give you 130k per month? Are you sure its not per year? 🤔
Per year
Wondering the same!!
@eklamwangi5125 that's more like it, thanks
@onsantee.7065 haha ikr, it was a slip of the tongue I guess juu after listening to the full video I realized at some point he divided the amount by 12 to get the monthly return. So its per year
Slip of the tongue
Interesting.. Good to know, thanks GJ for sharing the knowledge.
Congratulations
Hi Joseph, I got lost somewhere when you said 13k per month and not per annum
Sorry I mean 130k per month and not per year
@@martinmaina22I love financial math so allow me to elaborate. The example comes from a 34 year old man with capital of 2 5 million so GJ suggested he put his money in an MMF which yields an interest of 13% per year.
2 500 000 x 13% = 325 000
subtract 15% withholding tax (325 000 x 15% = 48 750)
subtract 2% management fee (2 500 000 x 2% = 50 000)
You will clear 226 250 by the end of the year. On a monthly basis this works out to 18 854 which allows you to pay your rent of 13 500 per month with a remaining balance. Which answers the initial question posed in the title of the video.
The building aspect he goes on to elaborate can work if you do not use the interest earned to pay rent but instead invest in materials and build your house over a period of 5 years. Bear in mind, the initial capital investment of 2.5 mil is held in an MMF account which you would use to buy land once you withdraw it.
How can you really trust these MMFs to save in them for 30 yrs plus?
Bro I like the way you dramatize, have now liked the video I had already subscribed
Hi GJ (Good Joseph) Any updates in best MMF companies to invest in??
Thanks Joseph I need to open account please help me
Which interest does it go buy compound or the other one . I joined recently
I save money in our sacco,I have a total of 120k shares,what advice would give me if I decide to take a loan of 150k?
does mmf pay per month or is it annually?
Good lessons 👍
Good content.
Did you mention 1M MMF gives a return of 130K per month then a house of 10K I should have invested at least 1M? Please correct me if I'm wrong. Cant 1M investment give you at least a comfy house for 50K while ploughing back the 80K in this rate 13%
It should be per year, I am in mmf of about 10% I get 9990 per month
@@ceciliakioria3357 Thanks. Which MMF is that? I'm looking for one to join.
Wish to buy book on investment in stocks. What's the payment process
Can i trust mmf? Good joseph
This approach will affect the compounding magic though, because of the withdrawals every month.
You dont do withdrawals just subtitute that amount from the one you supposed to invest
@@williambooker7940good reasoning
Huh? MMF percentage returns are on an annual basis. Not monthly...
He needs to come back with clarification,
Great idea.
Please clarify, is interest given per month or yearly. Am in a Sacco and they give us on yearly basis. Advice appreciated. Am daily follower. Be blessed.
It's per year he made a mistake which he corrected later
@@judynyakwama-cp7xb I was to ask but i knew that it was a trivial and he corrected later.
It's yearly. Monthly is a scam
Yes it’s yearly
Are you guys members of any mmf??? I am a member of Old mutual and the interest is given monthly... Etica is monthly too. Do your research.
Thanks for that ideas
What's the difference between mmf and fixed account
Thank you so much Sir
Which legitimate MMF would you recommend ?
At the 7:01 mark you said with 1 m you earn about 13% per month and then at the 7:15 mark you are dividing the 300 interest by 12 months again! Please clarify on that
Am watching from Us and i like ur advice
Which is the company for Mmf.
etica
Good afternoon
I'm in nigeria,please which mmf will you prescribe for me and how will I download
Sema igweeee
Per month? I thought they offer percentage per yr? Please clarify.
Just did with a smile
Thank you sir.
Discipline in saving is critical
Funny thing 😂😂 on point
Hello GJ,,if I got a 1million cash an I get another million from a bank then put it into MMF as 2million,,, is that possible?
Are you taking 1 million from the bank as a loan or what? I'm trying to follow your train of thought
1 million from your pocket and another million from bank as a loan,,, making a total of 2 million into mmf
Mmf will give 13% interest rate profit. Bank loan interest rates are 17%. You lose you money
@@IvanIvan-r3v I get the sense
Please how about chances of losing my money in mmf kindly 🙏
Thanks for the video
What if l have 10k, which business might l start with
Very impressive
I have no knowledge in MMF can you please tell me more about it
Just do a little search online and you will have all the info in no minute. Good luck 🤞
These MMF are risk free? On the flip side maybe price of rent, land and material increase during the 5years
It actually increases more than the mmf
Hakuna investment risk free
No. MMF is not risk free. They're low risk. Remember MMF invests in commercial papers too. Some invests in Banks (Imperial Bank ringing a bell).
Please elaborate on the mmf that gives you 17% per month or did you mean to say per year?
Per year. He did mention at some point in the video. I think he mispoke the first time.
The profit %is per annum not per month.
Please, how do go about MMF in my country in Nigeria
try FBN QUEST in Nigeria (subsidiary of first bank) or GTB Mutual fund, or Stanbic bank mutual fund. good luck
The problem is that some of us are outside county and we don't know how we can open this account
Can we open the account in play store
This is really not a problem. I opened all my MMF accounts, I trade stocks, and have a dhow csd account to buy government bonds, all while abroad, and am still investing in them. Just do your due diligence, then decide which ones you want to invest with. Google how to do so online, submit your KYC details online and that is it. Then keep investing going forward! 😊
Is it per month or per year
Per year
I also had that question
Where do money market funds get the money to pay you interest
They invest the pooled money in low-risk government bonds and treasury bills where they get the interest to share with you as their client.😊
What is mmf
Can you elaborate please
Money market fund
nice idea
I need personal information please
Kindly make me understand why you guy's preffer mmf over treasury Bills?
Please also tell us about mmf taxes + fund manager funds(2%), its always good to give the correct figures
When you register for an mmf,they will always give this details.The management fees is 2% across all mmfs.There is also withdrawal tax each month.This is also in the details before registration.
Only advantage of MMF over t Bills is liquidity. And flexibility of being able to gradually build up your investment
I'll do this comparison.
Per year
Per year not per month
Nop...buy land please
How far has that gotten you?
Which mmf give 17percent
13% per month or per year?
Per year!
Make a video on how to calculate interest of mmf per day
❤❤❤
Land and a personal house is valued in Africa, but It is actually a liabilitiy 😂😂