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Fixed deposits in Nigeria is a type of savings account which lasts for a set period of time. It earns you a higher rate of interest for setting aside your savings for a longer period of time.
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Advantages include responsiveness, flexibility, higher return (than savings account), convenience and control.
When you buy an equity or a bond, you pay fees to the middlemen who match up buyers and sellers, process payments, and so on, which is why fees are inescapable. That said, you can keep fees to a minimum, potentially saving yourself huge sums of money over the long run.
When diversifying, it’s important to choose investments in Nigeria that react in different ways to different scenarios. E.g, when interest rates go up, stocks tend to gain value, while bond prices drop.
Investment goal-setting is an intensely personal affair that will be guided by your own style and preferences. But if you set generalized goals, such as “financial security” or “a comfortable retirement,” you’re going to have trouble measuring your progress along the way.
Investments in Nigeria and other developing nations tend to grow at faster rates of economic growth than developed nations, by developing their infrastructure and financial systems. Rapid economic growth tends to translate into rapid profits-growth.