‘Huge knowledge gap can limit millennial’ investment decisions’
Millennials have been tasked to make sound and informed investment decisions that will guarantee their plans for the future.
This was at a panel session organized by Investment One Financial Services Limited at the recently held tech and media event tagged Social Media Week Lagos 2020.
The panel session, powered by Ziing, had financial experts including Dr. Ola Brown of Flying Doctors, renowned millennial investor and author Tomi Balogun, Research Analyst, Moses Hammed, and Tope Omojokun, Managing Director, Investment One Funds Management Ltd.
The panelists decried the huge knowledge gap on available investment opportunities for youths, who need guidance on how to make decisions on their finances.
Making her submission, Brown defined investment as wealth accumulation that is achieved through a willingness to take informed risks and charged youths to put money into what can give returns in the future.
She also highlighted the disturbing culture of heavy spending on social events and fashion which, she said, does not give returns on investment.
Balogun advised patience and enjoined youths to learn how investments work and to have clearly defined goals. She went further to list the factors to consider before making investment decisions and urged youths to form or join investment clubs.
On his part, Hammed pointed out that asking questions about risks rather than focusing on returns is a good approach to investment. He decried the prevalence of below-the-radar and unregulated investment schemes which eventually fails and has negatively affected the perception of young investors.
Omojokun used the opportunity to talk about the investment opportunities youths can take advantage of especially with the Ziing mobile application which makes it easy to set financial goals, play in the stock market, invest in forex, real estate and earn good interests in savings.