MRROUGHSEX Posted October 7, 2020 Share Posted October 7, 2020 That is quite a fast estimate of years Don K. For me, I'm estimating 18 years. I still have 5 years to go. 8-10 years from now your passive income might be at par na with your regular income. Quote Link to comment
kengamboa Posted October 7, 2020 Share Posted October 7, 2020 Actually you need to earn a lot more here in ph to live more comfortably. For one no good health care system here. Mr. Really depends on where or when did you invest just an example a not so old 8 story building in legaspi area cost 180M in 2008 plus 20 for renovation. Prime Commercial property in makati now? 1M/sqm 1 Quote Link to comment
MartinDomingo Posted October 7, 2020 Share Posted October 7, 2020 lets all be rich 1 Quote Link to comment
MRROUGHSEX Posted October 7, 2020 Share Posted October 7, 2020 Actually you need to earn a lot more here in ph to live more comfortably. For one no good health care system here. Mr. Really depends on where or when did you invest just an example a not so old 8 story building in legaspi area cost 180M in 2008 plus 20 for renovation. Prime Commercial property in makati now? 1M/sqmWhy are you mixing lving/residential with commercial? Paki-explain. Quote Link to comment
MRROUGHSEX Posted October 7, 2020 Share Posted October 7, 2020 As of 20201005 2020 Financial Goals Non-Net Worth: Insurance: * Save up for parents' emergency bills to 8K (currently at 7K) * Increase college savings of children to 27K by year-end (currently at 29K) - MET Net Worth: Property * Reduce total debt to 42K by year-end (currently at 44K) * Expect condo value to appreciate to 52K by year-end (currently at 51K) * Anticipate house value to appreciate to 290K by year- end (currently at 283K) Savings for Current Use * Buttress business fund to 100K by-year end (currently at 188K) -- MET Savings for Retirement/Future Use * Grow retirement savings to 210K by year-end (currently at 185K) * Drum up social security savings to 192K by year-end (currently at 188K) (Note: PV at 360K for age 62) * Increase % of paid tax vs deferred tax in my Retirement savings to 25% (currently at 30%). -- MET Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 (edited) lets all be rich Let's all be rich....MINUS the complications. Edited October 8, 2020 by neville Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 Quiet for the past few weeks because I'm working on my income, catching up on romance fiction (nagsawa na sa Youtube videos, not a Netflix and chill type), and paying off my debts aka credit card installments. I plan to contact a Registered Financial Adviser to get a more solid plan for my passive income and retirement. Financial Advisors aka insurance agents can only teach you so much. Since I realized I still want to go abroad for further studies, I have to factor in the tuition, etc. in the picture. Since someone opened the idea of housing a kabit in his budget, good luck to you. I am somewhat finding myself in your situation where it is the guy who will depend on me financially if i say yes to his relationship terms. No wedding, the one who earns more foots the bill, etc. Thanks to the pandemic, we are forced to be in an LDR-ghosting set up. Right now, I'm thinking, I might as well remain single and just hire a male house help/driver when the time comes. Hilig ninyo sa sakit ng ulo. Quote Link to comment
kengamboa Posted October 8, 2020 Share Posted October 8, 2020 Why are you mixing lving/residential with commercial? Paki-explain. We are talking about investment sir. It's always the commercial spaces that will aprreaciate faster and generate ypu more income. Always has been always will. Another quick example of timing got a 90sqm commercial unit at bgc for 10M last 2007. Another quick note never loan on things that will not generate you any income. My advice to the young ones be frugal as much as possible. Make a financial plan I'm appalled on how many people have no concrete plan on their future my usual response from my employees are mag ipon muna sir then mag ka family na tapos makabili ng sariling bahay. Then may sariling business. I promise you that same employee will have that answer 10 years from now. 1 Quote Link to comment
kengamboa Posted October 8, 2020 Share Posted October 8, 2020 If your living in a country that have good benefits, pensions etc. your lucky here in ph your biggest expense after retirement are medical bills. I dont't know the exact stats but just look around how many Filipinos resort to borrowing money because of their love ones getting sick. Quote Link to comment
kengamboa Posted October 8, 2020 Share Posted October 8, 2020 Quiet for the past few weeks because I'm working on my income, catching up on romance fiction (nagsawa na sa Youtube videos, not a Netflix and chill type), and paying off my debts aka credit card installments. I plan to contact a Registered Financial Adviser to get a more solid plan for my passive income and retirement. Financial Advisors aka insurance agents can only teach you so much. Since I realized I still want to go abroad for further studies, I have to factor in the tuition, etc. in the picture. Since someone opened the idea of housing a kabit in his budget, good luck to you. I am somewhat finding myself in your situation where it is the guy who will depend on me financially if i say yes to his relationship terms. No wedding, the one who earns more foots the bill, etc. Thanks to the pandemic, we are forced to be in an LDR-ghosting set up. Right now, I'm thinking, I might as well remain single and just hire a male house help/driver when the time comes. Hilig ninyo sa sakit ng ulo. I feel like a lot of women now are gping to be like that not married but happy and well accomplished in life. Which is a good thing marry somoene who has the same perpective or plans as you it will last longer. Somoene who will push you to get better not ask you to slow down (because their sorry ass can't keep up) 1 Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 I feel like a lot of women now are gping to be like that not married but happy and well accomplished in life. Which is a good thing marry somoene who has the same perpective or plans as you it will last longer. Somoene who will push you to get better not ask you to slow down (because their sorry ass can't keep up) I have my doubts. I'm just more pragmatic than the rest. 1 Quote Link to comment
Papa Popoy Posted October 8, 2020 Share Posted October 8, 2020 QUESTION TO EVERYONE is 10,000 a day salary okay? tatanggapin ko ba? 10k a day times 30 days 300k a month? ok ba yun para sa pamilyadong maraming bisyoDepende yan, kung USD yang 10,000/day tanggapin mo na...pero kung VND, tanggapin mo pa rin para matanggal mo na ang maraming bisyo mo 😂😂😂 1 Quote Link to comment
MRROUGHSEX Posted October 8, 2020 Share Posted October 8, 2020 We are talking about investment sir. It's always the commercial spaces that will aprreaciate faster and generate ypu more income. Always has been always will. Another quick example of timing got a 90sqm commercial unit at bgc for 10M last 2007. Another quick note never loan on things that will not generate you any income. My advice to the young ones be frugal as much as possible. Make a financial plan I'm appalled on how many people have no concrete plan on their future my usual response from my employees are mag ipon muna sir then mag ka family na tapos makabili ng sariling bahay. Then may sariling business. I promise you that same employee will have that answer 10 years from now.Okay yan P10M commercial property. Yun kasing prior post mo sir is 180M kaya di ko naarok. I mean no matter how much a regular person saves, hindi aabot sa 180MM . Anong business lalagay mo sa unit mo Don KG? So true yung comment mo about people not liking to save. Kasi inuuna yung masarap -- gimmick, foodies, yabang sa gadgets at shoes/relo/jewelries. Even if they earn a lot, wala rin nasasave. Dapat visit nila itong thread na to para mainspre. Quote Link to comment
MRROUGHSEX Posted October 8, 2020 Share Posted October 8, 2020 Depende yan, kung USD yang 10,000/day tanggapin mo na...pero kung VND, tanggapin mo pa rin para matanggal mo na ang maraming bisyo mo Tinanggap ko sweldo na P1.3K/day sa Pinas in 2006 kaya bilib ako ke Don MD sa sahod nya. Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 Depende yan, kung USD yang 10,000/day tanggapin mo na...pero kung VND, tanggapin mo pa rin para matanggal mo na ang maraming bisyo mo Puwede ring 10,000 Zimbabwe dollars noong kasagsagan ng inflation nila. Hehehehehehhehehehehe Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 Okay yan P10M commercial property. Yun kasing prior post mo sir is 180M kaya di ko naarok. I mean no matter how much a regular person saves, hindi aabot sa 180MM . Anong business lalagay mo sa unit mo Don KG? So true yung comment mo about people not liking to save. Kasi inuuna yung masarap -- gimmick, foodies, yabang sa gadgets at shoes/relo/jewelries. Even if they earn a lot, wala rin nasasave. Dapat visit nila itong thread na to para mainspre. Hayop. 1M pesos in cash nga, halos sumuka ako ng dugo para magkaroon. 180M pa? I'm on the fence about real estate properties. Managing and facing people is not to my liking. 1 Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 Tinanggap ko sweldo na P1.3K/day sa Pinas in 2006 kaya bilib ako ke Don MD sa sahod nya. Last office pay ko ay 1100 pesos per day. Matino na yon for rank and file. BPO pa. Didn't want to take the management route. Kissing ass and dealing with people is toxic for my peace of mind. Mahirap na at baka beast mode ako araw-araw. Kaya wag na lang. Kung dito sa Pilipinas si MD, baka management siya. Kung rank and file, nangangarap or nasa illegal business. 1 Quote Link to comment
neville Posted October 8, 2020 Author Share Posted October 8, 2020 In other news, aka my kaperahan: Finally, i have my 3 month contingency fund (180,000) set. 9 months na lang hehehehehehe Pag may 12 month contingency fund na ako, 12 months' worth of emergency fund naman. Emergency fund = medical check up, instant room repairs, sudden expenses (not wants!) that are not part of the budgetContingency fund = pantapal sa kita kapag bitin sa monthly budget ang dumating na kita sa freelancing. 1 Quote Link to comment
kengamboa Posted October 8, 2020 Share Posted October 8, 2020 Okay yan P10M commercial property. Yun kasing prior post mo sir is 180M kaya di ko naarok. I mean no matter how much a regular person saves, hindi aabot sa 180MM . Anong business lalagay mo sa unit mo Don KG? So true yung comment mo about people not liking to save. Kasi inuuna yung masarap -- gimmick, foodies, yabang sa gadgets at shoes/relo/jewelries. Even if they earn a lot, wala rin nasasave. Dapat visit nila itong thread na to para mainspre. I'll be bullshitting all of you If I said I got it it from blood sweat and tears haha... I'm already a 5th generation family business here so some of it offcourse came from inheritance already. But did ventured out on other business pa. As I've said be frugal at the start all my sibling are driving camry's and BMW during the 90's I was driving an old galant. (It helped that I don't have any interest in cars back then haha..) a trip to Jonas pares was already an expensive meal for me. 1 Quote Link to comment
kengamboa Posted October 9, 2020 Share Posted October 9, 2020 Try also to concentrate how to increase your income, not lessen your expenses. You can only lessen your current expenses by just a small margin lang. Unlike the ceiling for your income growth is much higher. Quick example how long does it take now to commute to work and back home. Maybe 3-5 hours during rush hours. Why not just rent a place near your work the time and energy that you saved use it to learn or study new things or do a sideline business at home, online etc. Plus your more focus the next day at your work. More attentive can take more assignments. 2 Quote Link to comment
kengamboa Posted October 9, 2020 Share Posted October 9, 2020 Last office pay ko ay 1100 pesos per day. Matino na yon for rank and file. BPO pa. Didn't want to take the management route. Kissing ass and dealing with people is toxic for my peace of mind. Mahirap na at baka beast mode ako araw-araw. Kaya wag na lang. Kung dito sa Pilipinas si MD, baka management siya. Kung rank and file, nangangarap or nasa illegal business. We all have different personalities kasi for me I always say if your young don't look for that oh "do what you love", "follow your passion". Pansin mo who are the people that usually says these things, people that are already well off and comfortable already in their life. When your still young do what makes you the most money, then as you get older you can shift to the ones that you love or passionate about. Younger self = stress and pressure. Older self = stress free and secured. Quote Link to comment
kengamboa Posted October 9, 2020 Share Posted October 9, 2020 In other news, aka my kaperahan: Finally, i have my 3 month contingency fund (180,000) set. 9 months na lang hehehehehehe Pag may 12 month contingency fund na ako, 12 months' worth of emergency fund naman. Emergency fund = medical check up, instant room repairs, sudden expenses (not wants!) that are not part of the budgetContingency fund = pantapal sa kita kapag bitin sa monthly budget ang dumating na kita sa freelancing. Is that you mr. Ramsey? Haha just kidding sorry can't resist. 1 Quote Link to comment
neville Posted October 9, 2020 Author Share Posted October 9, 2020 I'll be bullshitting all of you If I said I got it it from blood sweat and tears haha... I'm already a 5th generation family business here so some of it offcourse came from inheritance already. But did ventured out on other business pa. As I've said be frugal at the start all my sibling are driving camry's and BMW during the 90's I was driving an old galant. (It helped that I don't have any interest in cars back then haha..) a trip to Jonas pares was already an expensive meal for me. Ah, the family inheritance factor. Bad trip ako sa parents ko dahil puro sama ng loob ang ipinamana nila. Walang properties. Hahahahaha Money-wise, dahil maykaya kami noong bata ako, sanay na akong di materyoso. Basta malaki ang cash reserve ko, doon ako masaya. 1 Quote Link to comment
neville Posted October 9, 2020 Author Share Posted October 9, 2020 We all have different personalities kasi for me I always say if your young don't look for that oh "do what you love", "follow your passion". Pansin mo who are the people that usually says these things, people that are already well off and comfortable already in their life. When your still young do what makes you the most money, then as you get older you can shift to the ones that you love or passionate about. Younger self = stress and pressure.Older self = stress free and secured. I'm 42. I'm over that hustle hustle mentality. I choose the opportunities offered my way. If the job requires too much work for not so much, I'm inclined to reject it. I prefer jobs that require work and pay a lot. Di ko na titipirin ang sarili ko. Is that you mr. Ramsey? Haha just kidding sorry can't resist. Nah. Wealth Arki is my go-to finance gang. Registered Financial Planners sila dito sa Pilipinas. May sira-ulo sa kanila kaya masayang manood sa videos nila. 1 Quote Link to comment
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