money Financial Planning

[JohannBeckham]

paadvice po ng best insurance company

 

There's so many variables required to be filled in before anyone can answer your question like:

1. What do you want to insure e.g. life, car, house,funeral, health/hospitalisation?

2. What's your budget?

 

Personally since I live in Australia (I've been living here for a while), I don't think I can recommend any insurance but maybe the community would be able to help.

 

But If I'am you, here are few thoughts:

1. VUL is a crappy insurance for 99% of the population, don't buy them. Separate insurance with investing ALWAYS

2. Buy "Term Life Insurance" instead

3. If no one depending in your income e.g. you're single, you don't need millions in life insurance, unless you want to be buried like King Tut

4. If you have dependends, get 8-10x of their expenses as life insurance coverage (e.g. kung kaya nila mabuhay sa 300,000/year, insure 2.4M-3M for them.

5. Have 3-6 months of expenses as emergency fund. This is one of the best insurance against the F*CK up of life

6. Get disability insurance.

7. If you're employed check if you have health insurance already covered. If not, get one.

8. If you're insurance premiums is greater than your savings/investment, you're an IDIOT.

9. Focus on investment. Once youre investment e.g. rental, stocks, is able to cover for your life expenses, you're self insured so you don't need life insurance perse.

[mister_mahilig]

Totally Agree ...VUL is the greatest SCAM in the Philippines! It is not the best insurance product for YOU! Only insurance companies make money!

[JohannBeckham]

Guys what are you financial goals for 2019?

[MRROUGHSEX]

Guys what are you financial goals for 2019?

Continuation lang of my life goals.

 

That would be:

* Reduce total debt to $58K by year end (currently at $74K)

* Grow retirement savings to $160K by year end (currently at $140K)

* Anticipate house value to appreciate to $272K by year end (currently at $252K)

* Increase college savings of children to $20K by year end (currently at $12K)

* Buttress business fund to $58K by year end (currently at $49K)

Edited January 3, 2019 by MRROUGHSEX

[JohannBeckham]

Is that debt, debt on mortgage? Your doing good dude.

 

My financial goal for 2019 is to exceed 2018 savings rate of 55% of takehome pay.

[MRROUGHSEX]

Is that debt, debt on mortgage? Your doing good dude.

 

My financial goal for 2019 is to exceed 2018 savings rate of 55% of takehome pay.

Mortgage na lang.

 

Thanks. Mid-40s na kasi ako kaya ganyan haha.

 

55%! My golly. I don't know how I could do that. Congrats!

[MRROUGHSEX]

Continuation lang of my life goals.

 

That would be:

* Reduce total debt to $58K by year end (currently at $74K)

* Grow retirement savings to $160K by year end (currently at $140K)

* Anticipate house value to appreciate to $272K by year end (currently at $252K)

* Increase college savings of children to $20K by year end (currently at $12K)

* Buttress business fund to $58K by year end (currently at $49K)

Adding a goal:

 

* Expect condo value to appreciate to $50K by year end (currently at $47K)

[JohannBeckham]

275k wow bro. Is that in the U.S.? Grabeh ang mura pa ng bahay dyan. Dito sa Australia lupa pa lng yan. kya we dont plan to buy a house here. Your in good spot bro, keep it up

 

Yeah, first time namin ng wife ko mkaipon ng ganito. In the past we only save 30% of take home pay max. Malaking impact kasi nung nagka work si misis after 3 years of being a stay at home mom.

 

This year im changing my investing style to focusing on dividend growth investing. I reckon if we can invest 700k, we can easily clear 40k of dividend tax free sa australia and be financially independent at that point. We dont plan to retire early (not me at least) since i enjoy my job pa.

[MRROUGHSEX]

275k wow bro. Is that in the U.S.? Grabeh ang mura pa ng bahay dyan. Dito sa Australia lupa pa lng yan. kya we dont plan to buy a house here. Your in good spot bro, keep it up

 

Yeah, first time namin ng wife ko mkaipon ng ganito. In the past we only save 30% of take home pay max. Malaking impact kasi nung nagka work si misis after 3 years of being a stay at home mom.

 

This year im changing my investing style to focusing on dividend growth investing. I reckon if we can invest 700k, we can easily clear 40k of dividend tax free sa australia and be financially independent at that point. We dont plan to retire early (not me at least) since i enjoy my job pa.

Oo meron naman mura house pa rito. Malaki naman US eh. Basta research lang sa internet hehe.

 

Why settle sa expensive area di ba? I researched and researched and visited many States and drove around. I drove LA, California and stayed there for a while to recon the area. I visited the States of Tennessee, Kentucky, Alabama, North Carolina, Virginia, New Jersey, New York, North Carolina, West Virginia, etc.

 

Then I assembled all the info and tabulated them, like in a financial model, by applying weights on stuff I like in an area (price affordability has the biggest weight LOL), salary (2nd biggest weight), weather (mild yet all 4 seasons), schools, nature (this encompasses also crime rate and cleanliness of the area since the more naturist the place, the lower crime and more clean).

 

And the winner is this area called Old Hickory in Tennessee.

 

See some of my neighbors in this video.

 

https://www.youtube.com/watch?v=IByFnuP9dE8&t=657s

Edited January 7, 2019 by MRROUGHSEX

[Hari ng Spakol]

paadvice po ng best insurance company

 

take insurance with VUL, you can inquire to Sunlife or Philam. don't get term insurance, it's like a car insurance, tapon lang ang pera mo every year kung wala naman nangyari sa iyo.

[JohannBeckham]

Insurance is an expense just like food, utilities, rent etc. VUL is an expensive way to invest. Its a lot cheaper to buy term (expense) and invest the rest in mutual fund or ETF. You'll never go wrong. VUL is widely marketed kasi 45% of your paid premium is paid sa ahente na nag benta syo. So its good for the insurance agent and bad for the consumer ksi napamahal ka. Unless mahal mo ang ahente mo kesa sa bulsa mo

[Agent Maria Hill]

 

take insurance with VUL, you can inquire to Sunlife or Philam. don't get term insurance, it's like a car insurance, tapon lang ang pera mo every year kung wala naman nangyari sa iyo.

 

it make sense to me

[JohannBeckham]

it make sense to me

Good on ya.

[JohannBeckham]

What are your investment strategy this year guys?

 

I'm contemplating to shift to dividend growth style of investing. Malalaman natin pagpasok ng sweldo next week.

[K0RN - RETIR3D]

Sa mga may Insurance (Life, Term, VUL etc), did you also get a Funneral Plan like sa St. Peter's?

[MRROUGHSEX]

What are your investment strategy this year guys?

 

I'm contemplating to shift to dividend growth style of investing. Malalaman natin pagpasok ng sweldo next week.

I like data predictive modelling, which is the same as "market timing" style of investing. I tried dividend stock investing in the past but I get caught up keeping the stocks till the hold time (some 6 months, some 1 year, etc) that I lose out on potential gains that I could have gotten from market timing.

 

But having an accurate predivtive model is very hard. I would say my work is only 50% complete. So still alot of work and patientce over time to complete the rest.

Edited January 9, 2019 by MRROUGHSEX

[JohannBeckham]

Sa mga may Insurance (Life, Term, VUL etc), did you also get a Funneral Plan like sa St. Peter's?

No i dont have funeral insurance. I guess term life insurance is enough. Im still in my 30s so prepaying for your funeral seems like a total lost of opportunity cost of your money if you just simply invest it in the stock market.

 

Living cost is always always greater than funeral cost so focus on your investment than insurance. Screw funeral insurance and start investing in mutual funds or ETF

[Husband's Lover]

Sa mga may Insurance (Life, Term, VUL etc), did you also get a Funneral Plan like sa St. Peter's?

 

no need to get St peter's if you already have life insurance that worth at least 1M coverage.

[Kaka_shi]

 

There's so many variables required to be filled in before anyone can answer your question like:

1. What do you want to insure e.g. life, car, house,funeral, health/hospitalisation?

2. What's your budget?

 

Personally since I live in Australia (I've been living here for a while), I don't think I can recommend any insurance but maybe the community would be able to help.

 

But If I'am you, here are few thoughts:

1. VUL is a crappy insurance for 99% of the population, don't buy them. Separate insurance with investing ALWAYS

2. Buy "Term Life Insurance" instead

3. If no one depending in your income e.g. you're single, you don't need millions in life insurance, unless you want to be buried like King Tut

4. If you have dependends, get 8-10x of their expenses as life insurance coverage (e.g. kung kaya nila mabuhay sa 300,000/year, insure 2.4M-3M for them.

5. Have 3-6 months of expenses as emergency fund. This is one of the best insurance against the F*CK up of life

6. Get disability insurance.

7. If you're employed check if you have health insurance already covered. If not, get one.

8. If you're insurance premiums is greater than your savings/investment, you're an IDIOT.

9. Focus on investment. Once youre investment e.g. rental, stocks, is able to cover for your life expenses, you're self insured so you don't need life insurance perse.

[JohannBeckham]

Guys, how do you mitigate Sequence of Returns Risk?

[MRROUGHSEX]

Guys, how do you mitigate Sequence of Returns Risk?

What is that? LOL

[MRROUGHSEX]

Revising the goals based on new information:

 

* Reduce total debt to $58K by year end (currently at $74K)

* Grow retirement savings to $160K $170K by year end (currently at $140K $150K)

* Anticipate house value to appreciate to $272K $280K by year end (currently at $252K $260K)

* Increase college savings of children to $20K by year end (currently at $12K)

* Buttress business fund to $58K $65K by year end (currently at $49K $55K)

* Expect condo value to appreciate to $50K by year end (currently at $47K)

[MRROUGHSEX]

This is screenshot of the last Phase 1 unit prices in my subdivision. The prices are for the 2nd to the last building being built.

 

By year-end, I can see that the last building would be priced in the $275K. Now that does not include upgrades. Throw in the usual $10K upgrades and the price would be $285K.

 

My unit has the unique advantage of being a forest lot which adds another $10K value. The area is also near a lake though I do not have a view of the lake. BUT, I have the creek from the lake on my back lot. I do not know yet how to assess the premium for the waterfront units as there are only 4 units in the entire subdivsion that has it, including mine.

 

For now I will be conservative and just add the $10K upgrades and the $10K forest lot premium to the year-end valuation of $275K which would bring my unit's market value to $295K by year-end..

 

 

[Kaka_shi]

👍

👌

[MRROUGHSEX]

When buying a house, add closing costs to the price of the house you are buying. E.g., $231,000 (their price, what you will pay) + $4,000 closing cost (additional pay for the loan, taxes ) = $235,000. You do not pay any agents' (buyer and seller) commission as the seller pays for those.

 

When selling a house, name your price and let the sale agents mark up their commission from your price. E.g., $440,000 (your price or what you will get) + $26,000 (commission of both agents) = $466,000 total sale price.

 

So even if my buy price of my tonwhouse show ~$231K, it was really $235K that I paid. And since, it is brand new construction I have to add the window treatments cost to the total which makes it $237K.