 So I'll be talking of black tax and savings. If there's one thing I know many millennials are struggling with when it comes to savings is black tax. Black tax refers to the financial supports which is expected of any working-class individual by their families. While some see this as an obligation, others don't. Some do it with joy, others don't. The problem with this situation is that for our parents, they didn't have the benefits of the current pension scheme which came up through the pension reform of 2004. Hence, they really do not have so much to fall back to or did not have so much to fall back to after their retirement. I hope this won't be the case for my generation when we get to that age or the age of our parents. Also, income level in Nigeria is so low with the minimum wage for civil servants at $30,000. When you add that to the black tax situation, people are left with little or nothing to save. The problem with black tax is that it can be impromptu, it can be unplanned, so all that you saved can be spent on solving a particular issue. So the question is what can be done? I believe this is where financial planning comes into play. Saving through voluntary pension contributions, mutual funds and even taking bets on local international stock markets would help a young person while he meets or she rather meets his or her black tax obligation. So what do you guys think? If a non-professional par excellence, when you are talking about black tax from research, black tax gets far some years back in South Africa. The issue of the emancipation of the black community, when they begin to get white-collar job, blue-collar job, even different color job, for those of you that understand this, the life which is looking at that. So what I'm saying is that, you know, many of them were leaving the villages to cities and towns to take up jobs as clique, what do you call them, secretaries, waterview and craftsmen. So the little they get by way of entitlement, kind of the family, the family was like, okay, I have someone in town, I know he's going to send this or this person needs to pay his fees or we need to buy this, we need to do that. So the person on his own will be blackmailed emotionally into doing that because even if it is not convenient, he or she will not feel comfortable. So that's where the origin of a black tax rather. But over the years, the world has adopted that same black tax from South Africa. So black tax now, there is another research that said that some migrants, especially it's common among blacks in countries like the US, UK and what have you, when the migrates down, there's always a high expectation from people who have a brother in Canada or a sister in America, oh, she will send me $100, but you don't know what they are passing through to get that. So, but you just feel entitled to do it because I have someone outside, the person was always sending me money. And that's why they said, this is the consequence of not having a note of this migrant building generation out. If you calculate the number of, sorry, I'm using this terminology, but I just have to use to explain it. If you go to countries like America, the white community, they have more, the percentage of the rich are always more compared to the black because of things like this. So it's now like boils down to the social construct. How can the government, through meaningful institutions solve the problem of poverty because it boils down to poverty. If social amenities are put into place and proper sensitization, people will not really bother much, especially young people trying to get job about their parents or something, because somehow the society will take care of it soon. So that's the problem. And another thing they gain is, how can institutions like the stock exchange for instance, various financial market exchange sensitize the public, especially here in Nigeria, like for instance, everybody, young persons know about cryptocurrency, they know about forex trading and all those things. But if you talk about the Nigerian stock, they don't even understand, they don't know anything about it. Many of us, or many of them, or yeah, many of us, we don't know anything about it. We don't, we don't even have fit in it for a few of us that even know in some things about it. We do, we do edit in Nigeria, we don't believe it in our country and it's not supposed to be because Nigeria is a great country. How can the government provide enabling environment and people will understand this and say, okay, I can be walking somewhere but I can have, I can buy bonds, I can buy company shares, I can invest in this market, I can maybe my pensions can go into mutual fund and why the government try to struggle with or try to provide the basic community so that the life will be easy for everyone. So these are things, these are the conversations to have around it. You know Ruth, I mean we're talking about this, you know, when we're coming down here. The truth is, like I shared with you privately, right, the truth is, and I love the way you ended, you know, your thoughts, which is financial planning, right. I mean I've said to myself that I'm so, so, so laser focused on my savings culture, right. Not an angle to come in between me and my savings is like my baby girl. So nothing comes in between my savings, right. And I think the more, because the truth is, family would always be there and the extreme side of that could be entitlement. Well, you know, it happens with this whole elder, elder child kind of thingy. The elder child has to bear the burden for everyone. And what happens is, other child does that and then over the years, that child begins to become grumpy, become begins to complain because, you know, down the years, his or her life hasn't amounted into any significance, right. I think it's about, so if you're earning 30K, right, you know, you say I'm saving 30% of 30K, right. So we are now earning 300K and you do 30%. The money's are going to be different. So it's about that consistency. So you don't say, oh, I'm earning 30K now, oh, let me reduce it to 2% because I'm earning much more. So it's about maintaining that consistency because the truth is, well, I know they finish, right. There are always problems. So there are always problems. So it's just saying, let's say, you know, I'm going to share something with the person. So we're making it like a family contribution and my mom told me that, you know, so you're going to, you know, draw 50K, that's more. I said, well, I'm not doing this, right. I've purchased something, you know, and I'm going to do my own contribution next month, and I'm going to add something next to it. She was like, oh, please, please, I said, mom, you aren't going to, you know, blackmeme or something. I am, I'm fixed on this. I'm looking at my savings sheet. Like I have like an Excel sheet where I track everything, right. So no confusion. So I think it's about that financial planning, right, and then keep putting. So if you are consistently giving somebody 10K every month, it's better than 10K this month, then 50K after two years, no, consistency. And when you grow, you are transparent. You see that you've grown in your income, you're giving them 10K, now you're giving them 30K, you're giving them 50K, giving them 100K, that's that growth. And they see you as someone that is really, really, you know, intentional with your finance. Money, money, like everything revolves around money. Money is the centerpiece of life. And we've got to be careful how we really build a relationship with money. Yeah, thank you very much. I was just thinking around everything everyone was saying. And I think the thought that keeps coming to my mind is that at the end of the day, there would always be something that you have to do for your family. I was even telling you the other day that sometimes you just even have to think of yourself, self-care. Yes. I want to share an experience because I've been laughing since, you know, since she, Ruth was sharing her opinion. And I'm laughing so hard here. My cheek is, my cheeks are hot. Sorry about that, bro. I am here in Cyprus. And I have an experience, a first time experience of what you guys are saying. And so, first thing I want to say is that you see problems to always be there. Family will always be there, right? So it boils down on your own personal decision and your own personal goal. Before I traveled abroad, something very significant happened. And I want to share this for people that it might just inspire and all that. So I came back from a trip one time. I traveled abroad. I came back from a trip and then I called my entire family and I told them, see, I want to embark on the project. I know this person is sick. This person is this. This person is that house rent needs to be paid, blah, blah, blah, and all those. I say, I know all these things are there, but people will see I have money. It's not like I don't have money. Look at the amount of money I have. But you see this money, even if anybody is dying now, I'm not going to take out any thinkable from this. I said, I can get emotional and give you, take you to the hospital, give this person, give this person. I said the consequences that in the next two years, all of us are still going to be on the same level. And so I zeroed my mind. And for the first time, I spent three good months. I never looked right. I never looked left. I did not give anybody any time until three months. I traveled abroad. But what was the consequence was that by the time they left me alone, I had more focus. I had more energy. I had more, you know, capacity. I could do more for myself such that when it was time for me to leave the country, I had enough money to give them so that they will not even be able to disturb me in the next six months. Do you understand? So it's on two ways. First is from the individual that is being black taxed. What are your goals? Because the truth is that if you are not able to achieve your goals, you are still going to have your own self to blame. Nobody is going to bear that consequence for you. Nobody is going to feel bad for you. It is you who knows the vision and the goal and the dreams you have for yourself. I always tell people that, listen, if you die right now, those people will find an alternative. And I told you, see, it went to so bad that I had to even look at my mom in the face and say, see, if anybody dies now, the person that is losing in advance, if you decide to die right now, you're losing in advance. So it better be alive and watch me get to where I'm going. So what I'm saying is that for us as millennials, for us as young people, yes, we cannot afford to look away from our responsibilities. But we also need to start planning around those responsibilities. Because like on the example we gave an instance, if you're earning 30,000 naira, you have to plan around 30,000 naira. And perhaps your salary scales up to 100,000 naira. You also need to plan around 30,000 naira, around 100,000 naira, not that it now gets to 100,000 naira. You are giving 5% before and now it's 100,000. You now quickly start giving 50% of the money because you feel like the money is high. There is this principle that says that in this life, I've forgotten the name of that principle, but it says that once people's income starts increasing, automatically their need also starts going up with it. And so if you are not able to plan around those things, then you're going to have a lot of problems. So here, I am laughing because this is a problem for people. And let me also say this, there is also this pressure, pressure not to be called a bad person, pressure not to be labeled, not to be labeled as irresponsible. In fact, I had an uncle that called me and said that he had that I've not been taking care of my siblings. I've not been doing this. What kind of responsibility is that? By the time he was telling me this, I was already like two days away living in Nigeria. And I just smiled. I did not have any explanation to give to him. So Black task will always be there, but you must not allow it to pressure you into not achieving your goal. You must have your savings. Anytime you stop saving, you don't have any dime in your account. They are going to survive. They are going to find another person. In fact, you will not even matter because the things that have made them to come close to you was because you had those resources. And so you must do everything to ensure that you always have. Don't forget, even the Moholy book will always say that to him who has more is going to be given to the person. Your ability to save means that you have the capacity to attract more resources. And anytime you start getting broke, forget it. The one you have will suck all of them and all of you will still be at the same level. And let me also end with this. I had a very powerful man who said something that two people that are at the same level can never help themselves. And so it has to take one person to come up. No matter what it means, even if it means you stepping on that person that is the other person, even if it means you coming up, but with the intention that by the time you are up, you can stretch out your hand and pull this person up. If that doesn't happen, then all of us are going to be at the same level. And we will be seeing Black task as a bad thing or as a negative thing, just because we did not take responsibility of our savings culture. Thank you very much. Thank you very much Raymond. I think just to put context to what he just said, I think the quote is, two poor people cannot help themselves. So I always tell people you have to help yourself to be rich so that you can also help somebody else to be rich. And I think just before I round off on this conversation, I feel like it's important to also mention this. We cannot neglect our responsibilities, especially when it comes to parents. Because me, I am very personal when it comes to my parents. We cannot neglect that responsibility. One thing I suggest for people to do is take insurance, especially health insurance for your parents, because that 50,000 era health insurance can save you 100,000 era bill. So I took health insurance for my mom at one point and she needed to change her glasses. She needed to go to the hospital. I didn't have to remove a dime from my pocket, which I would have actually spent that and more on that. So I feel like there's many of these HMOs now that are given opportunities for insurance. Knowing fully that health is something that our parents are subject to. So we need to take health insurance. So right now, Felix is going to be the next after the break.