money Financial Planning

[MRROUGHSEX]

Guys, let us set our financial goals for 2020

 

2020 Financial Goals

Property

* Reduce total debt to $42K by year-end (currently at $57K)

* Expect condo value to appreciate to $52K by year-end (currently at $50K)

* Anticipate house value to appreciate to $290K by year- end (currently at $275K)

Savings for Current Use

* Increase college savings of children to $27K by year-end (currently at $20K)

* Buttress business fund to $100K by-year end (currently at $82K) (Note: Conservative case at 92% of actual)

* Save up for parents' emergency bills to $8K (currently at $3K)

Savings for Retirement/Future Use

* Grow retirement savings to $210K by year-end (currently at $174K) (Note: Conservative case at 92% of actual)

* Drum up social security savings to $192K by year-end (currently at $177K) (Note: PV at $360K for age 62)

[neville]

Aayusin ko pa po portfolio ko. Trabaho kasi sa field hanggang end of the year, meron uli bukas. Sloth mode na naman ako. hahaha

 

UUmpisahan ko na mamaya, ibibigay ko pa siya sa Financial Adviser ko para ma-analyze na rin niya. Tanong ko na rin kung paano i-track ang expense comparison base sa credit card.

 

Registration season na naman sa peyups next week. Yeba.

[JohannBeckham]

Aayusin ko pa po portfolio ko. Trabaho kasi sa field hanggang end of the year, meron uli bukas. Sloth mode na naman ako. hahaha

 

UUmpisahan ko na mamaya, ibibigay ko pa siya sa Financial Adviser ko para ma-analyze na rin niya. Tanong ko na rin kung paano i-track ang expense comparison base sa credit card.

 

Registration season na naman sa peyups next week. Yeba.

@Neville kung maalam ka sa excel, you can track your expense dun. You can also create your own budget. I personally dont get the value of financial adviser, maybe because my finances is too simple to manage. I even file my own taxes, no worries.

[neville]

@Neville kung maalam ka sa excel, you can track your expense dun. You can also create your own budget. I personally dont get the value of financial adviser, maybe because my finances is too simple to manage. I even file my own taxes, no worries.

May monthly set budget ako kaya Alam ko kahit papaano (?!) Kung saan nagpupunta pera ko.

 

Tinitingnan ng Financial Advisor ko Ang status NG pera ko nang malaman ko Ang overall net value ko NG year to year basis.

 

Siyempre on paper pa Rin Ang yaman ko. Di ko naramdaman pa kasi Wala pa akong 1M na emergency fund sa bangko. Hehe

 

 

Yung Financial Advisor ko ay insurance agent ko. Free service Yung ginagawa niya. Ex-deal namin. Extra service Niya Ang financial planning sa mga clients Niya. Libre ako in exchange for being her poster girl aka mowdel sa page ng team niya 😁

[paupau]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

[JohannBeckham]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

It will help us reply to you kung may maibibigay ka pang details about yourself like age, saang bansa ka naka based (some of us like myself are based abroad) may utang ka ba, may savings? May dependents ka ba, etc. Kasi i believe wlang cookie cutter approach in terms of financial planning and investment.

 

Pero generally ito ang mare recommend ko:

1. Create a zero-based budget and track all the money that comes in and money that comes out.

2. Save a beginner emergency fund (say Php 15k - 40k) sa bank of your choice e.g. bdo, bpi, metro, etc.

3. Pay your debts like credit card, utang sa bumbay, utang sa kamag anak or kaibigan etc. except mortgage kasi laki non

4. Open a trading account or mutual fund. I'm a fan of index ETF kya i recommend FMETF. di ko alam kung may iba pang index fund na available sa Pinas (kung based ka sa Pinas). Invest as much as you can in these funds

 

Yan na lng muna kasi ko alam situation mo. Are you into real estate or business, etc. Sobrang daming variable. Tambay ka lng dito at tanong tanong ka lng

[Papa Popoy]

May monthly set budget ako kaya Alam ko kahit papaano (?!) Kung saan nagpupunta pera ko.

Tinitingnan ng Financial Advisor ko Ang status NG pera ko nang malaman ko Ang overall net value ko NG year to year basis.

Siyempre on paper pa Rin Ang yaman ko. Di ko naramdaman pa kasi Wala pa akong 1M na emergency fund sa bangko. Hehe

Yung Financial Advisor ko ay insurance agent ko. Free service Yung ginagawa niya. Ex-deal namin. Extra service Niya Ang financial planning sa mga clients Niya. Libre ako in exchange for being her poster girl aka mowdel sa page ng team niya 😁

Uy x-deal..ano yan neville??? 😂✌️ Bka pwede rin nya akong model?? X-deal din...kpalit chicks 😂😂😂✌️✌️✌️

Seriously, gnyan dn ung sakin, yung sa insurance agent ko rin yung financial adviser ko...wala nga lang x-deal na nangyayari 😂

[Papa Popoy]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

Depende rin kasi yan sa kung Yung nakausap mo ba ang nagmamarket ng investment funds nila..hindi ko naman sinasabing engot yung nakausap mo, pero parang ganun na nga 😂😂😂✌️✌️✌️

 

Actually, andami mong kelangang ishare para matulungan ka ng mga milyonaryo dito...

1. How much ang monthly savings mo?

2. How much ang monthly expenses mo?

3. Ano work mo? Source/s of income mo?

4 single ka ba? May asawa? Ilan??...ang anak? 😂✌️

5. Magkano ang ipon mo/ cash on hand?

6. May mga utang ka ba?

7. Etc.

 

After nyan, may mga possible investments na pasok para sayo...pero wag pasok ng pasok, baka magdugo 😂 ...ang ulo mo sa sakit. Pag-aralan mo muna yung investment na papasukin mo at iassess ang sarili mo kung high-risk taker ka ba, medium risk taker, etc.

[sexycayote]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

Gaya ng sabi ng iba, need ng mas maraming info galing sa iyo bago magkarecommend ng mas maayos.

Ingat ka rin magtanong sa banko, baka kasi ang ibigay sa iyo yung VUL nila imbis na pure investment na option.

 

 

It will help us reply to you kung may maibibigay ka pang details about yourself like age, saang bansa ka naka based (some of us like myself are based abroad) may utang ka ba, may savings? May dependents ka ba, etc. Kasi i believe wlang cookie cutter approach in terms of financial planning and investment.

 

Pero generally ito ang mare recommend ko:

1. Create a zero-based budget and track all the money that comes in and money that comes out.

2. Save a beginner emergency fund (say Php 15k - 40k) sa bank of your choice e.g. bdo, bpi, metro, etc.

3. Pay your debts like credit card, utang sa bumbay, utang sa kamag anak or kaibigan etc. except mortgage kasi laki non

4. Open a trading account or mutual fund. I'm a fan of index ETF kya i recommend FMETF. di ko alam kung may iba pang index fund na available sa Pinas (kung based ka sa Pinas). Invest as much as you can in these funds

 

Yan na lng muna kasi ko alam situation mo. Are you into real estate or business, etc. Sobrang daming variable. Tambay ka lng dito at tanong tanong ka lng

Ii sa lang ang ETF, per may mga Mutual Funds na Index Funds. Halos lahat ng banko na may MF, may Index Fund, nagkakatalo lang sa admin fees.

[JohannBeckham]

As we set our goals for 2020, share ko lng tong quote na to from the book "12 Rules for Life - An Antidote to Chaos" by Jordan Peterson:

 

"Treat yourself like someone you are responsible for helping"

 

Taking responsibility is what gives life meaning so be responsible for your financial life, relationships, spiritual life, physical health, mental health, etc.

 

I highly recommend this book so if your like me who loves to read/listen to audiobooks, i highly recommend this.

[MRROUGHSEX]

As we set our goals for 2020, share ko lng tong quote na to from the book "12 Rules for Life - An Antidote to Chaos" by Jordan Peterson:

 

"Treat yourself like someone you are responsible for helping"

 

Taking responsibility is what gives life meaning so be responsible for your financial life, relationships, spiritual life, physical health, mental health, etc.

 

I highly recommend this book so if your like me who loves to read/listen to audiobooks, i highly recommend this.

I like that. Help yourself first before you can help others.

[MRROUGHSEX]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

On my last visit sa Pinas, nag-inquire ako sa BDO on investments and I was referred to their product specialist. Open daw ako ng UTIF. Sabi ko ok here is Php250K, put them all in large-cap UTIF product. I said I know the risks and won't be touching it in years. Ayaw maniwala, sabi sa akin sa Fixed Income UTIF daw ako kasi kahit konti me kita whereas sa pure stocks like Large Cap, nalugi raw sya.

[zener]

Large cap = blue chips?

[PenetrayShawn]

Totally noob to investment. Any recommendations? Nagask ako sa BPI about their investment funds, mejo engot din kausap ko. Hindi din masyado alam products nila.

 

Figure out your goals and risk appetite before diving into investing. Baka mapaso ka (best case scenario) or lokohin ka (worst case scenario) eh. After getting to know yourself better, check out your options. Funds usually post data sheets showing their performance and what they're investing in. If it makes sense to you, go buy in. Mabuti na ang informed decision kasi di ganoon kasakit kesa sabak agad sa gyera. Balance learning and doing and find what works for you, maraming iba ibang diskarte ang mga tao dito

 

Sa iba, ok na sila sa consistent investing sa fund na sumusunod ("track") sa PSEI, ang theory kasi doon (simply put) ay pataas ng pataas lagi ang stock market over the long term

 

May iba mutual fund/ UITF ang style. That has its purpose din

 

Still others pick stocks. Again, ibang laro naman yun pero personally I don't find the hassle worth it. I would rather be doing something else rather than look at charts all day, it's not my thing

 

Or you could consult a financial planner. Pero wag ka tanggap lang ng tanggap sa payo nya, be critical

 

Pero kung fund recommendation lang habol mo I would recommend Security Bank. Malaki ang returns nila so fund management must be doing something right

 

Good luck!

Edited January 17, 2020 by PenetrayShawn

[zener]

Balita ko nga lagi may award ng security bank.

[sirheinrichcu]

Im 31 years old Net worth

 

Bank A 400K +

Bank B 90K+

Betting Site 30K +

loans 1M +

[JohannBeckham]

Im 31 years old Net worth

 

Bank A 400K +

Bank B 90K+

Betting Site 30K +

loans 1M +

Tsong, ying Loan mong 1M, mortgage ba yan, student loan, consumer loan e.g. credit card or business loan?

 

Prang di kumpleto ang picture.

 

Networth kasi as its basic form is:

 

Networth = Asset minus liabilities

 

Kung may loan ka at yung loan mo is mortgage, then sa asset dapat i add mo yung equity ng real estate mo. The same way MRS dis his.

[sirheinrichcu]

Tsong, ying Loan mong 1M, mortgage ba yan, student loan, consumer loan e.g. credit card or business loan?

 

Prang di kumpleto ang picture.

 

Networth kasi as its basic form is:

 

Networth = Asset minus liabilities

 

Kung may loan ka at yung loan mo is mortgage, then sa asset dapat i add mo yung equity ng real estate mo. The same way MRS dis his.

ubos na kasi . so hindi na kasama sa asset

bayarin na siya

[paupau]

It will help us reply to you kung may maibibigay ka pang details about yourself like age, saang bansa ka naka based (some of us like myself are based abroad) may utang ka ba, may savings? May dependents ka ba, etc. Kasi i believe wlang cookie cutter approach in terms of financial planning and investment.

 

Pero generally ito ang mare recommend ko:

1. Create a zero-based budget and track all the money that comes in and money that comes out.

2. Save a beginner emergency fund (say Php 15k - 40k) sa bank of your choice e.g. bdo, bpi, metro, etc.

3. Pay your debts like credit card, utang sa bumbay, utang sa kamag anak or kaibigan etc. except mortgage kasi laki non

4. Open a trading account or mutual fund. I'm a fan of index ETF kya i recommend FMETF. di ko alam kung may iba pang index fund na available sa Pinas (kung based ka sa Pinas). Invest as much as you can in these funds

 

Yan na lng muna kasi ko alam situation mo. Are you into real estate or business, etc. Sobrang daming variable. Tambay ka lng dito at tanong tanong ka lng

 

 

Depende rin kasi yan sa kung Yung nakausap mo ba ang nagmamarket ng investment funds nila..hindi ko naman sinasabing engot yung nakausap mo, pero parang ganun na nga ✌️✌️✌️

 

Actually, andami mong kelangang ishare para matulungan ka ng mga milyonaryo dito...

1. How much ang monthly savings mo?

2. How much ang monthly expenses mo?

3. Ano work mo? Source/s of income mo?

4 single ka ba? May asawa? Ilan??...ang anak? ✌️

5. Magkano ang ipon mo/ cash on hand?

6. May mga utang ka ba?

7. Etc.

 

After nyan, may mga possible investments na pasok para sayo...pero wag pasok ng pasok, baka magdugo ...ang ulo mo sa sakit. Pag-aralan mo muna yung investment na papasukin mo at iassess ang sarili mo kung high-risk taker ka ba, medium risk taker, etc.

 

Thanks for these mga sir. To answer your questions:

I'm a 35yrs old IT professional working here sa pinas. I have 1 dependent. Wala utang. Monthly expenses is around 40k, and savings is more than what I spend. Current savings is less than 1M. Kung di ako siguro naadik dati sa spakol, for sure milyonaryo na din ako tulad nyo .And yes I maintain a spreadsheet that tracks my money (in and out).

Not really into stocks, for me mejo mataas learning curve and kelangan talaga paglaanan ng time. So mejo i'm leaning toward mutual fund or UITF kaso zero idea talaga about them. May inooffer sakin, yung the usual na may need ka bayaran monthly for a few years, then nakalock money mo and magmature after a couple more years. Kaso parang naliliitan ako sa returns versus sa haba ng years na maghihintay.

Edited January 23, 2020 by paupau

[JohannBeckham]

 

 

 

Thanks for these mga sir. To answer your questions:

I'm a 35yrs old IT professional working here sa pinas. I have 1 dependent. Wala utang. Monthly expenses is around 40k, and savings is more than what I spend. Current savings is less than 1M. Kung di ako siguro naadik dati sa spakol, for sure milyonaryo na din ako tulad nyo .And yes I maintain a spreadsheet that tracks my money (in and out).

Not really into stocks, for me mejo mataas learning curve and kelangan talaga paglaanan ng time. So mejo i'm leaning toward mutual fund or UITF kaso zero idea talaga about them. May inooffer sakin, yung the usual na may need ka bayaran monthly for a few years, then nakalock money mo and magmature after a couple more years. Kaso parang naliliitan ako sa returns versus sa haba ng years na maghihintay.

Thanks for giving us more details. It gives us context (somewhat) of your current situation as personal finance is really personal, walang cookie cutter approach.

 

 

What are your goals that your investment would be the means for you to meet those goals? Your answer to this question i think would drive many of recommendations for your specific situation.

 

Your actually in a good financial situation compared to alot of Filipinos sa Pinas because of the following:

1. Your still considered young - if you invest now your money would compound overtime. Sabi nga ni Albert Einstein Compound interest is the eighth wonder of the world. He who understands it, earns it he who doesn't pays it.. Personally when i started, i was in a negative financial standing(credit card debt) and i only started investing at age 31, after i get married (I'm married to an accountant). Pero since then I never stop investing and so far my dividends is giving me more than Php 50k/month.

2. Good career - I work in I.T. rin and Its a good career. And lota of opportunity local or abroad especially if your hardworking, willing to learn, have a good attitude and a good team player, you'll do well

3. Wla kang utang - this is good kasi interest on debt has the same compounding effect and your spared from that.

4. Savings is more than expenses - if i understand you right you have more than 50% savings rate. The higher your savings rate, the faster you'll reach your financial goals.

5. Current savings is 1M - have a purpose for this. Is it 100% allocated as emergency fund?

6. You know your risk tolerance - this is important. Personally i'll go with ETF or index fund since its low cost, diversified and very passive. f#&k lock-in funds. The risk and fees is not worth their promise of returns.

[paupau]

Thanks for giving us more details. It gives us context (somewhat) of your current situation as personal finance is really personal, walang cookie cutter approach.

 

 

What are your goals that your investment would be the means for you to meet those goals? Your answer to this question i think would drive many of recommendations for your specific situation.

 

Your actually in a good financial situation compared to alot of Filipinos sa Pinas because of the following:

1. Your still considered young - if you invest now your money would compound overtime. Sabi nga ni Albert Einstein Compound interest is the eighth wonder of the world. He who understands it, earns it he who doesn't pays it.. Personally when i started, i was in a negative financial standing(credit card debt) and i only started investing at age 31, after i get married (I'm married to an accountant). Pero since then I never stop investing and so far my dividends is giving me more than Php 50k/month.

2. Good career - I work in I.T. rin and Its a good career. And lota of opportunity local or abroad especially if your hardworking, willing to learn, have a good attitude and a good team player, you'll do well

3. Wla kang utang - this is good kasi interest on debt has the same compounding effect and your spared from that.

4. Savings is more than expenses - if i understand you right you have more than 50% savings rate. The higher your savings rate, the faster you'll reach your financial goals.

5. Current savings is 1M - have a purpose for this. Is it 100% allocated as emergency fund?

6. You know your risk tolerance - this is important. Personally i'll go with ETF or index fund since its low cost, diversified and very passive. f#&k lock-in funds. The risk and fees is not worth their promise of returns.

 

Current goal ko is to grow my money as much as I can in a short period of time para pampatayo sana ng house and of course emergency fund. Ginagawa ko lang kasi now eh walang humpay na time deposit which is a little bit higher than normal savings account's interest rate.

IT ka din pala, so you have a general idea sa salary ng software devs. Wala na ko utang for now since pinilit ko tapusin bayaran yung sasakyan ko in 2yrs. So now ipon naman for house. Sabihin na natin monthly savings ko eh more than my 40k monthly expenses. And yes for now dun muna ako sa low to medium risk while I'm still trying to learn financial stuffs. Mahirap pasok ng pasok, baka magdugo

[JohannBeckham]

 

Current goal ko is to grow my money as much as I can in a short period of time para pampatayo sana ng house and of course emergency fund. Ginagawa ko lang kasi now eh walang humpay na time deposit which is a little bit higher than normal savings account's interest rate.

IT ka din pala, so you have a general idea sa salary ng software devs. Wala na ko utang for now since pinilit ko tapusin bayaran yung sasakyan ko in 2yrs. So now ipon naman for house. Sabihin na natin monthly savings ko eh more than my 40k monthly expenses. And yes for now dun muna ako sa low to medium risk while I'm still trying to learn financial stuffs. Mahirap pasok ng pasok, baka magdugo

Ayun, narinig na rin namin yung goal mo which are:

1.Pampatayo ng house (I assume as a principal place of residence)

2.Emergency fund (i assume to fully fund it)

 

On Goal#2: a fully fund emergency fund is different for for everyone but most personal finance book i read, it is offen rexommended to have between 3-6 months of expenses. So if your spending 40k a month, set aside 120k to 240k. Emergency fund is not an investment, its an insurance to the f#&k up of life e.g. medical emergency mo, or family mo, etc. Generally, emergency fund is park in typical high(er) interest savings account (H.I.S.A.) since you can withdraw it easily in times of emergency.Most banks give f#&k all interest, but just get what you can get. Personally my bank only offers 2.1% per annum, but its better than nothing

 

On Goal #1: i assume, you've done your homework on this like how much money is required sa pampatayo ng house and whats your timeline sa pampatayo? If your timeline is short (less than 5 years), you dont need to invest the money in the stock market. Since you save 1M already, maybe set aside 120kto 240k of it as emergency fund, and the rest of 760k or 880 for the house you'll building. The shortfall, You can either save or take a loan. I personally do not own a house and I'm renting. But it's a lifestyle choice naming mag asawa since we want to be within walking /biking distance sa work namin, plus malapit sa parks where we can do our regular runs and burn calories, walking distance to playgrounds and water park for our daugther, secure and a big patio with an awesome ocean view to watch the yachts passing by and watch awesome sunset and sunrise. If we will be buying, its gonna be too expensive where we are so we rent. Buying a house to live is a lifestyle choice and we simply choose not to give up the benefits we are getting in renting.

Edited January 24, 2020 by JohannBeckham

[JohannBeckham]

I'm glad financial education is getting more accessible to more pinoys with YouTube and other sites.

 

I saw this video by Vince Rapisura and seems legit basic stuff.

 

https://youtu.be/jrNoH2owgBE

[neville]

As of January 2020:

 

Annual Net Worth 2018: PhP 540,574

Annual Net Worth 2019: PhP 2.6M

Growth: approximately 416%

 

As of January 2020:

 

Emergency Fund: PhP 151,000

Insurance

-Philamlife PhP 800,000

-Sunlife PhP 1.4M

 

Active Income: PhP 60,000/month

Passive/Inactive Income: PhP PhP 2.6M (Insurance, Stocks, Mutual Funds, Time Deposit)

 

Payments (as of 12/2019): PhP 712,000

 

Target Values:

 

Emergency Fund: PhP 1.5M

Insurance: PhP 3M

2020 Annual Worth: PhP 3.5M

Edited January 30, 2020 by neville

[Papa Popoy]

As of January 2020:

Annual Net Worth 2018: PhP 540,574

Annual Net Worth 2019: PhP 2.6M

Growth: approximately 416%

As of January 2020:

Emergency Fund: PhP 151,000

Insurance

-Philamlife PhP 800,000

-Sunlife PhP 1.4M

Active Income: PhP 60,000/month

Passive/Inactive Income: PhP PhP 2.6M (Insurance, Stocks, Mutual Funds, Time Deposit)

Payments (as of 12/2019): PhP 712,000

Target Values:

Emergency Fund: PhP 1.5M

Insurance: PhP 3M

2020 Annual Worth: PhP 3.5M

Angyaman mo na neville..pwede na mag-asawa 😜

Pakape at pacanton ka naman 😂🍻

Edited January 31, 2020 by Papa Pipoy