LAGOS, Nigeria (Voice of Naija) – Akon, the Senegalese-born American singer, has shared valuable insights on wealth management for those who aspire to preserve their affluent lifestyle.
According to Akon, practicing financial prudence is a fundamental requirement for individuals striving to uphold their financial position.
The Konvict label boss while appearing on the latest episode of the Impaulsive podcast, labeled himself ‘very stingy’, attributing this characteristic to his ability to effectively preserve his vast wealth.
He also advised music stars and celebrities against owning private jets, noting that they cost more to maintain.
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He said, “If you want to stay rich, stay stingy. I’m the stingiest guy on the planet.”
“I attempted to own a jet, but it only lasted 6 months; I sold that thing so fast. Buy some hours and use it only when necessary, and most of the time use it as a way of negotiating; let that be a part of your strategy to the money, but whatever you do, never own a jet.
“Owning a jet means you spend two to three million dollars a year just for upkeep. You spend more on maintenance than the actual jet cost.
“This is the advice I give everybody: the money you have now has to last you a lifetime. When you think about it like that, the way you manage everything will be different.”