I don't believe in savings; I believe in investment – Dr. Boadi Nyamekye

Head of Maker’s House Chapel International, Dr. Michael Boadi Nyamekye has highlighted the significance of diversifying income sources, insisting that people should not confine themselves to a single job.

In an interview on Starr Chat on October 3, 2024, he remarked, “Everybody has a multiplicity of talents. And God is so wise that He gave you two hands, whilst you have, say, your banking job on one hand, you can have another on the other hand.”

Dr. Nyamekye’s promotion of establishing multiple income streams reflects his conviction that financial security is best achieved through a blend of active and passive income sources. “You have to have a basket of things that you do,” he articulated, advocating for a combination of jobs that feature both direct involvement and passive income options. “Some you engage in actively, others you engage in passively,” he noted.

Questioning conventional views on saving, the doctor claimed that saving alone is inadequate for building wealth. When prompted about his earlier comments on the necessity of saving, he firmly stated, “Even when I die and you come and ask me the same thing in my grave, I’m going to stick by it. I only save because money is not supposed to be kept.”

Dr. Nyamekye elaborated on the concept of money flow by likening it to rivers. “Money is, that’s why I say currency. Currency means flow… The reason why the bank and the riverbanks go together is the bank is supposed to direct the flow,” he explained. He warned against saving merely for its own sake, particularly when the interest accrued does not match inflation rates. “If you are saving and you are not getting anything in return, why are you saving the money then?” he questioned.

His firm opposition to conventional saving methods stems from his belief in the value of investment. “I don’t believe in savings. I believe in investment,” Dr. Nyamekye asserted, encouraging individuals to reconsider their financial tactics in favor of more dynamic wealth-building strategies.

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