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Ask Shade

Personal Finance with Raphael: 5 ways to control Emotional Spending

By | Ask Shade, Investment 101, Life Bits | No Comments

Emotional spending is an act of buying something for yourself that you don’t need perhaps don’t even really want, as a result of feeling stressed out, bored, under-appreciated, incompetent, unhappy, or even happy. For instance, when you received a raise or on your birthday. It’s entirely not a bad habit if you can afford to pay for those items seamlessly and have a robust financial plan to cover your goals without having to borrow or struggle to create these plans. Emotional spending could be a destructive shopping spree to compulsive shoppers and could cause continuous damage to one’s wallet if…

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3 ways to achieve more before the year ends

By | Ask Shade, Life Bits | No Comments

The past few months in 2020 have sped by almost in a blur leaving a lot undone and times uncertain all thanks to the coronavirus pandemic. But the remaining three months don’t have to be that way. You can start now to revisit the goals you’ve probably set earlier in the year that you’re yet to pursue and start taking meaningful steps towards achieving them. Here’s a quick guide to help you. Create a plan of action A plan is like a road map that shows you how to get from point A to point B. Whatever goal you have…

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7 Things a Valid Will Cannot Control

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A legal will cannot—and thus does not—control everything. When it comes to estate planning, there are several types of documents that already name your designated beneficiaries. Thus, your will does not control: Who receives your life insurance proceeds. If you’ve designated a beneficiary, the beneficiary gets the life insurance no matter what you may state in your will. If you have a change of heart, you should change the beneficiary with your life insurer. Who receives money from your retirement accounts. These act like life insurance proceeds. Whoever you’ve designated as your beneficiaries will get the money from the retirement accounts despite…

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ESTATE PLANNING: LEAVING A LASTING LEGACY

By | Ask Shade, Investment 101 | No Comments

Wakanda Forever. Unfortunately, no-one lives that long. Chadwick Boseman excited and inspired countless youths and adults when he played the world’s first black superhero, King T’Challa of Wakanda, in the blockbuster “Black Panther.” His recent passing at age 43 shows us that even those who appear to be young, vibrant, wealthy and heroic need an estate plan whose key elements include: A Durable Power of Attorney, which appoints a surrogate to make decisions about property and financial affairs on behalf of an individual, especially when or if they become incapacitated; A Healthcare Power of Attorney which appoints an Agent for…

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7 Things A Valid Will Can Control

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Valid last wills can provide for: Appointment of an executor of the estate. The executor should be someone you trust to administer the estate and follow what the will provides. The executor also pays the estate’s debts and taxes. He or she helps ensure that the beneficiaries receive what you wanted them to receive. Division of your assets. You can divide your assets any way you choose. Appointment of a guardian for your children. You can name a legal guardian, and/or an estate guardian, for your minor children. Make sure the guardians are people you trust to raise your children…

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Market Update: August 2020

By | Ask Shade, Research | No Comments

Equity: The Nigerian Equity market closed the month of August on a positive note. The ASI expanded by 2.51% on a month on month basis, whilst on a year -on-year basis, the losses eased to -5.6%. On a sectorial basis, telecoms emerged as the best performing sector gaining +20.47% year-to-date, followed by the cement sector (+8.37% year-to-date). Other sectors closed on a negative note including Banking (-16.26%), Brewers (-39.25%), Oil and gas (-60.36%) and food (-16.34%). Going forward, we anticipate improved local domestic participation in the equity market due to the lower yield environment in the fixed income market. However,…

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