Today in History: Salaries don’t cure poverty, rather investments – Analyst

In January 2021, an investment analyst, Paul Kofi Mante noted that investment can cure poverty and not salaries.

He explained that the monies received at the end of the month were to manage the situation and not a long-lasting solution to eradicate poverty.

Read the full story originally published on January 11, 2021.

An Investment Analyst Paul Kofi Mante has stated that salary is a means to manage poverty and not a solution to poverty.

He said only a business or an investment can cure poverty.

He acknowledged that some people cannot run businesses but says everybody can invest so people who work in banks can invest their monies because they have access to soft loans so they should take the money and invest.

“Salary is the medicine for managing poverty it does not cure it. Only a business or investment can cure it. Where I sit and we managing about four billion Cedis, I have so many clients who have their money working for them, they come in quietly. I have clients who will easily make over 100,000 returns a month. As for 10,000 and 20,000, they are plenty. And the thing about investment is that it is quiet. Nobody knows”.

Paul Mante made these comments when he appeared on the 3FM’s “Monthly Personal Capacity Building” for the month of January on the Sunrise Morning Show which will discuss topics such as personal financing, personal health and among others, at least once a week on the Morning Show.

According to Paul Mante, one of the challenges with personal financing is a lifestyle where people are doing things they may not necessarily be able to afford.

“Your salary or income must dictate what you eat not your appetite. If you want to take this seriously in 2021 and beyond don’t be in competition with anybody; it’s your life, be in competition with yourself. Set your own financial goals,” he stated.

According to him, there are people who are driving big cars but are struggling with fuel. “You will be surprised at the number of people who are driving four wheels who live in rented houses. So the issue of lifestyle, you want to take this serious don’t be in competition with anybody”.

He indicated that a lot of people particularly young people are not patient when it comes to saving small for their future. He said the younger generation wants to make money overnight.

Mr. Mante encouraged people to have multiple streams of income. But said it must not be limited to just setting up a business.

The 3FM’s Sunrise Morning Show Personal Capacity Building will run for the next four months, each with its own theme.