WHAT DO YOU HAVE TO DO TO BECOME A MILLIONAIRE

One of the biggest pop stars of the year 2010 is no doubt, Justin Bieber. It was some time late last year that he came out with the monster hit 'baby' The song connected with fans the world over because it describes aptly what most of us (normal folks, that is) experienced when we're 14 or thereabout, our very first encounter with infatuation and the awakening of our hormones. First hug, first kiss, first girlfriend, first love, first everything. Justin Bieber found a fan in everyone, even those that disliked him for being friends with Kim 'the remarkable-and-outstandingly-bodacious' Kardashian (what's up with that lady anyway?) It came as no surprise at the MTV awards 2010, when he upstaged the 'rejuuvenated and returnee' Eminem and Kanye 'Imma-let-you-finish-but' West, for the Male Artiste of the year.

If anything is in doubt it's not Bieber's talent. What we're celebrating about Mr Popstar 2.0 did not start last year though. It started years ago when his mom began posting videos of the much younger Bieber singing and playing the guitar on youTube. Many youTube posts and years later, some record executive snapped him up and the rest as they say is history.

What about back home in Naija? Did you think Uti winning BBA's prize money was overnight success? Abeg, abeg, abeg...It took Uti 2 seasons of being in Big Brother's house in the least, not counting his years of getting ready. Listen people, there's nothing like overnight success! Nobody went from zero to hero overnight. It takes years of hardwork, dedication, preparation and some luck. Ask P-Square, the harmonica-blowing 'Koko' master; D 'banj, the short black dude with the big black glass; M.I, luck alone wouldn't do it. They got to where they are because they were prepared to be lucky. My question to you, Lagos, dear reader of my blog is, what are you still waiting for? I'm not so good with cliches but I know one that goes something like, 'Do not do tomorrow, that you can do today.'

Let me ask you, Mr, Miss or Mrs. reader, what do you have to do to be a millionaire? Have you ever asked yourself that question before...What do I have to do to be a millionaire? Is it to run the marathon? Hang out in the bushes in some 'search' for someone's lost gold? Or is it to start a small business or multi-million naira business? The business option is more like it, that's the most practical approach, the only snag being you don't have the money. Loan? Why, yes but don't think about that option if you don't have collateral. So what on earth can a young, ambitous hardworking and "honest" Lagosian do to become a millionaire? Any ideas anyone...

No matter how you look at it and how you go about it, the most practical way to be a millionaire and remain one is to save your way to your millions. Shikena! Nothing more to it than that. You have to save your way to the top. When you invest well in some business venture and you arrive at a windfall, what do you do with your profit? You'd keep some while you think about where to go next, you don't go on a trip round the world next, you take time to think and plan, right? Which brings me to the next question, Do you have a financial plan? Have you heard of savings plan? What do you know about life assurance policy? Nothing? Zilch? Diddly squat? (that one's according to Mick McCarthy, the Wolves coach after losing 'galantly' 2-1 at Old Trafford...did I hear someone say "Up Man-Yoo!"...see beef.)

Lets get serious, Lagos, how many of us think we can become millionaires overnight? How many people became millionaires after the many 'millionaires' promos of the the telecomms sector? How many became millionaires after guzzling much more than desired litres of alcohol from this or that bottle, following promises of El Dorado that awaited beneath the crown cork of your favourite and not so favourite brand of beer? How many packets of seasoning do you have to buy to win 1 million naira? Your guess is as good as mine...we'll just never know.

For you to become a millionaire, you have to make your money work for you. It's like planting a crop. You first till the ground, drop the seed, walk away and voila! The ground explodes with bountiful harvest? No! It's not that easy. You till, you plant, you water, you watch, after some time your crop matures, then you harvest. It takes some work people. Much the same way money works. Banks are relevant, saving there is essential like breathing air but for the long term, your mind should be directed where your savings would earn you much more. Banks are doing a great jobs here but there are some financial services that are just out of their league (no pun intended, I'm not dissing anyone, I've several savings accounts myself.)

For you to become a millionaire, Lagos, first you need financial advice. What do I invest? Where do you I invest? For how long would I invest and for what return on investment? I bet we remember the age-old saying, "Little drops of water, makes a mighty ocean." Unless one's parents are money bags (and I'm talking about the really wealthy ones whose money could last like 20 lifetimes) becoming a millionaire on one's hard-earned naira

Permit me to reveal something now, take this to heart and you can take it to the bank (literarily and actually.) Your life assurance policy can make you a millionaire! This is the class of insurance in which you have a guarantee of your money coming back to you. All premiums paid on a life assurance policy are sure to return to the owner with value! All it takes is time. And that depends on whether one buys a short. medium or long term plan. Every good thing takes time in coming to fruition. Ask those who know, ask those who have experience, ask those who have arrived at their financial destination and they will tell you...It wasn't easy.

Let me bust a very common insurance myth, Lagos. Rumours have it that some poor unfortunate folks paid premiums to their insurance companies and when it was maturity time, they were cheated of their hard-earned money and told 'Mungo Park' stories. The answer to that is they were swindled from the very beginning. That insurance agent was defrauding them from day one. Fake receipts, fake reports, fake statements of account abound everywhere. The conman had no conscience, not the slightest compunction at all with giving his clients false information all in an effort to spirit their money away. The unfortunate experience has made many a victim and their family and friends determine never to purchase or allow anyone they know purchase an insurance policy.

My take on that is simple...Cutting off the nose to spite the face! Would you chop off your head off if you contracted lice from your last trip from the village? Ask these people if they stopped patronizing the banks after several 'failed bank' sagas? Can we count the number failed banks and billions of naira we've lost in Lagos? Why didn't we start keeping money in shoe boxes and piggy banks (kolo)? Let's be realistic people, how many failed insurance companies can we mention? If we put bad experiences into consideration, how many would want to marry at all after several episodes of failed romance? How many married their first love or if single, how many Lagos boys stopped toasting when their girlfriends called it quits? Bitter experience or not, life must go on.

In every 12, there's always a Judas, right? In today's Nigerian insurance industry, that Judas would find himself cooling his heels in Alagbon close faster than he can say his name. The insurance industry has re-capitalized, we've re-positioned for the challenges ahead. The question now should be, do I know an insurance company to handle my savings plan? Do I know any insurance marketer out there? The purpose of this blog is to reach out to people and educate them where we (insurance marketers, that is) need to. I am convinced of one thing, that in the nearest future people would realize the usefulness of the insurance industry and the onus of doing that job would fall upon individuals like myself. The need to portray the insurance industry in good light is one of my responsibilities and I'm doing it with conviction because I've seen enough facts and figures to convince myself that the road to being a millionaire might be a long one but I can get there in due time with a solid contingency plan that can at the same time act as my savings account with extra benefits. My name is Olumide Ogungbemi and I'm an insurance marketer with Standard Alliance Life Assurance Limited.

For more information on our products and services, I can be reached on 07033588160 and 07056989820.