am a 44 year old and in self employment but without a steady income. I own a house in Nairobi, which i intend to sell for Ksh 1.5 million. I plan to invest Sh 500,000 of this to secure my childrens education.i want to take them to a private high school which costs sh 15,000 per child per term.The children aged 12 and 7 live with their mother whom we saparated two years ago.I live in the two bedroom house i plan to sell,and rent onother for sh8000.
2006-09-29 22:46:08 · 3 answers · asked by Omar 1 in Business & Finance ➔ Personal Finance
It is appreicated that you had built an asset despite your unsteady income.
You are not addressing your problem. Selling is one solution. But then , once the money is over, what will you do?
First think of making money. Do not plan to dispose off investments, unless, you re-invest and get better returns.
Ramesh
The Human Search Engine.
2006-09-29 22:57:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you sell the house you own and keep on living in the house your rent and invest the money you'll receive from the sale wisely you could indeed secure the future of your children AND create an income for yourself, making you less dependable on your, as you stated non steady, income as an entrepreneur. You should let yourself made a solid personal financial plan. I advise to go to www.quarantz.com. They can make you a plan for free (hoping that you will be their customer later on) and make tailored plans for every country including Kenya.
2006-09-29 23:00:31 · answer #2 · answered by Patrick L 3 · 0⤊ 0⤋
rent them out it's a steady income
2006-09-30 00:16:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋