If your net worth is below N10 million, your first goal should not be to look wealthy. Your goal should be to accumulate productive assets, increase your income and consistently move your net worth forward. There is nothing wrong with enjoying the money you make, but spending heavily just to impress people can keep you financially stuck. Instead of buying things that only create an appearance of wealth, focus on building assets that can generate income or appreciate in value.

I have highlighted 5 vehicles which you can use to accumulate more assets to increase your net worth under the next 10 years.

1. Money Market Fund: A Money Market Fund can help you grow your net worth. Instead of leaving all your excess cash idle, you can consider putting part of it into a professionally managed money market fund that invests in short-term, income-generating instruments. It can be a useful starting point for building the habit of saving and investing while gradually growing your financial assets.
2. Invest In Government Securities: Government Securities can help you grow your net worth. Treasury Bills and other government securities like FGN Savings bond can provide a relatively conservative way to put your money to work while you build your investment portfolio. Instead of keeping all your savings idle, you can consider allocating part of your money to suitable government-backed instruments, depending on your financial goals, investment horizon and risk tolerance.
3. Invest in Real Estate (REITs): Real Estate can help you grow your net worth. Property can become a valuable long-term asset that may appreciate over time and, in some cases, generate rental income. You don't necessarily need to start by buying an expensive house or land outright; you can explore options such as REITs or gradually save and invest toward fractional property ownership.
4. Invest In A Profitable Business: A Profitable Business can help you grow your net worth. A well-managed business can generate cash flow, increase in value and become an important wealth-building asset over time. Start with a business you understand, control your expenses, reinvest part of your profits and build systems that can operate beyond your personal effort. Don't just work for money—build something that can create value, generate income and become an asset.
5. Invest In Your Skills and Financial Literacy Education: Your Skills and Education can help you grow your net worth. The ability to earn more is one of the most valuable assets you can develop. Investing in professional skills, financial education, technology, certifications and continuous learning can increase your earning potential and create better opportunities for income growth. The more valuable you become, the more opportunities you can create to increase your income, save more and invest more.