Cents Sensei

Having a second source of income is a goal most of us should have and then way we go about it is typically to have a side hustle. Sometimes we can get emotionally invested in our side hustles and forget that they are an investment that need to give us a return. Without this investor mindset your side hustle will be nothing but a hassle: a waste of you time and money. In this episode I help you get this investor mindset.

We always lament the poor decisions of lottery winners when they lose their winnings through poor decisions. However, many more people receive lump sums at their retirement, through salary increases, or other ways and end up wasting this money. Listen as I guide you on the steps to take when you receive a lump sum to ensure that you retain that money.

If you are to invest in the stock market, you will need an understanding of dividends. In this episode we will talk about the types of dividends, the numbers you need to know, and how dividends fit into your investment plan.

Life insurance is important part of your financial plan. Before getting into serious investing, if you have dependents, you will need to get some. We often use rules of thumb to decide how much life insurance to get but this can result in being over insured or under insured. Listen as I take you through a step-by-step process of deciding how much life insurance is right for you.

Investment wealth isn’t from secret knowledge or skills. It is from a lifetime of good investment habits. Dave Ramsey, the writer of The Total Money Makeover, says that head knowledge accounts for just 10% percent of personal financial success. 90% is from behavior or habits. In this episode learn about the top 3 good investment habits that will bring you lifelong success.

Our brains are power instruments but if we are not careful our thinking can trap us. When making investment decisions we need to be aware of certain pitfalls that can torpedo our goals, and this will help us to become better investors. Listen as we identify the behavioral traps and ways to deal with them.

Using other people’s money to invest is a very attractive preposition. It offers you the prospect of moving faster towards your goals. However, adding debt on top of the inherent risk in all investment can make the situation extremely challenging for you. Listen as I help you learn how to think through the situation and make better decisions.

There are over 60 stocks on Nairobi Securities Exchange, and it is not always easy to know the right one to pick. We might get overwhelmed and avoid investing in shares. However, we need shares in our portfolios because they have the potential to give us the returns to meet our retirement needs. Investing in the stock market does not need to be scary or unprofitable. In this episode learn how to go about it like a pro.

Abraham Lincoln once said, "Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.” When it comes to investments, the time you spend working on an investment policy statement, is you taking your time to sharpen your axe. Listen in this episode as we talk about the sections of this important document.

One day, we all must become skilled investors. Specifically, that day is at our retirement. This day can come as a shock if we are not prepared. Listen as we talk about the stages that we go through when it comes to investing. Understanding each stage will help us become the type of investors that we admire.