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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 :D .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.

Mayabang lang po ako pero hindi milyonaryo at hindi mayaman 😜

Mukhang stable ka naman..eto suggestions ko sayo:

1. Kumuha ka ng insurance...life, accident, critical illness, etc. You will never know what will happen to you in future. Better be safe than sorry.

2. In investing, especially for beginners, do not test the depth of the water with both your feet. Whatever investment you choose, wag masyadong magtake ng high risk..in my experience ETF ang pinakanasayahan ako kumpara sa time deposit, trust at mutual fund. Ok lang rin magtake ng high risk kung medyo familiar ka na.

3. Do not put all your eggs in one basket. Try to diversify. Aside from ETF, pwedeng sa stocks, real estate, agriculture, etc.

Good luck pogi!

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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

 

You have a very nice financial situation. Good to see that your hard work is paying off.

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As of 20200201



2020 Financial Goals



Property


* Reduce total debt to $42K by year-end (currently at $56K)


* 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 $22K)


* Buttress business fund to $100K by-year end (currently at $84K) (Note: Conservative case at 92% of actual)


* Save up for parents' emergency bills to $8K (currently at $4K)



Savings for Retirement/Future Use


* Grow retirement savings to $210K by year-end (currently at $176K) (Note: Conservative case at 92% of actual)


* Drum up social security savings to $192K by year-end (currently at $178K) (Note: PV at $360K for age 62)


Edited by MRROUGHSEX
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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

416% annual growth rate is excellent! How did you it? Care to share some tips to this community how you quadrupled your networth in a single year?

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February na, araw ng mga puso!

 

Pero magbabaliktanaw muna ako sa nakaraang bwan ng January 2020, ito ang breakdown ng January budget ko by percentage (pra wala ng currency conversion):

 

  • Savings 56.85%
  • Food 13.81%
  • Housing 12.02%
  • Family & Entertainment 5.22%
  • Utilities 4.52%
  • Charity 3.23%
  • Health/Fitness 2.13%
  • Insurance 1.24%
  • Growth/ Creativity/Self Expression 0.50%
  • Transportation 0.48%

One thing I notice is that our food budget is greater than our housing expenses (that's all the eat-out and grocery expenses we do). We rarely use our car so parking cost lng yung Transportation cost kya sobrang liit lng. We live in the CBD kasi kaya walking distance lng kme sa lahat e.g. workplace, mall, grocery, parks, playground, etc.

 

On the positive side, we did save good last January and I'm so proud of it. I'm not sure if we can maintain that high savings rate since we probably have several travel this year, but we'll see.

Edited by JohannBeckham
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416% annual growth rate is excellent! How did you it? Care to share some tips to this community how you quadrupled your networth in a single year?

 

 

ano nga ba ginawa ko?

 

60K income ko mula 2019...inubos ko malaking credit card bill ko. noong nasa office ako, halos lahat ng OT, pinatulan ko kaya mas marami akong income.

 

sumugal ako sa pagbili ng 2 insurance noong 2018. nagbukas na rin ako ng COL account Sept. 2018. marami sa extra cash ko, sa COL nagpupunta.

 

last year, kumuha ako ng isa pang insurance plan. kung kaya, kukuha ako ng isa o dalawa pa. kailangan ko lang magpapayat daw para di pahirap sa underwriters.

 

ngayon yung business namin ng ate ko ang inaasikaso. pareho kasing medyo analysis paralysis kami kaya wala pa kaming income. may ayaw mag-adjust mula sa nakasanayan, hindi tuloy kami umuusad. hahaha

 

hanap pa ako ng extra income, pero babantayan ko workload ko kasi talagang gagawin ko na thesis ko. baka wala akong matapos pag masyado akong tutok sa pera. hehehe

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I currently have 150k na pwede ko iinvest or gastusin sa business. Baka may maaadvise kayo? I already have emergency fund. Ano Kaya maganda uitf? Stocks? Mutual fund? Or business? Thanks in advance

 

 

Do you have any immediate need for it? or is the cash mere extra? Do you have debt that you need to pay?

 

How many months of expense does your emergency fund cover? Are you employed? Yes? Is it secure? No? Maybe you may need to up your emergency fund.

 

Do you actively monitor the stock market? Are you familiar with how it works? No? Mutual funds may work. Note that when you plonk your money in the stock market and plan to invest, you need to keep the money you add there for at least 5 years.

 

Business? Can you manage it? Or will someone else do it for you? Do you know your market? Have you done research on your product?

 

 

 

 

Dami ko bang tanong? Dami kasing parameters na kailangang tingnan bago mo gamitin ang pera. Good luck.

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  • 2 weeks later...

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1. Capital (5M to 10M or higher if justified)



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Edited by ♛ CEO ♛
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  • 2 weeks later...

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