kengamboa

I actually did this. I used to live in QC and traffic was horrible to Makati so I rented in Makati and converted my car to a taxicab. I hired a driver to drive it in morning till night and then after work, I would drive bar girls home for extra money.

While it may not have increase my salary that much, the focus and learning on my job was heightened which served me well when I moved to US.

 

It's not always about how much you will earn more on having a consistent mindset that your not wasting time bet you felt better driving on those late nights rather than at home watching tv haha...

Nah the properties are not inherited I was the blacksheep of the family mostly my siblings went to UP while I barely got a college degree then had a bad deal while working on the family business. Felt bad then went to the US to my sister, and work in HP for 3 years. Came back when my dad wanted a side business. Started with 8M capital back in 1993 learned the trade and today it grew more than the main family business which I'm already out of. Then when it came to inheritance I just asked to be the sole owner of that business that I grew didn't want to argue with my other siblings so they got all the properties and businesses instead.

Not a guru just my personal opinion. Marami kasing factor like are you still young? Married? Any dependents? Will suggest lang on what I will do. If I'm in my early 20's single no dependents. I would just act like I'm broke use that 5k to invest in myself like get books, attend seminars, maybe enroll in a online class or something go out meet other people in your same field attend events etc. Then try to find another opportunity na with those set of new skills/knowledge or connections to get a better salary.

For me kasi 5,000 is not really going to cut it that's 60k a year 600k in 10 years you'll be a millionaire in 17 years. You have to consider the inflation pa.

Oh about the investing I would suggest save up to 100k before you start thinking about investing into something. And never stocks might as well go to a casino na lang nag enjoy ka pa. Your first investment should be a sure thing or low risk. I know paulit ulit ko sinasabi real estate pero for me yun na pinaka lowest risk e unless overprice mabili mo it worked way for our ancestors its still working now.

My grandpa always advice me don't focus on getting rich quick focus on getting rich for sure.

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.

 

 

Well yes at that age you should. I'm 55 but I still miss those start up stages, doing brand recognition is what I miss the most. I do enjoy stressful situations the high for me once we overcame it is unmatched.

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 budget

Contingency 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.

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.

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.

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.

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)

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.

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.

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

If your in your 20's palang good na yan and if pepe lang luho mo as you get older kasi dumadami din hobbies/expenses mo. use the excess for passive income investment like properties, bonds, side businesses and never touch your passive income if anu kinita mo sa passive income mo invest in back into that to grow or expand. 8-10 years from now your passive income might be at par na with your regular income.

You never know baka pag 40's 50's ka na you can support 2 family's na haha..

I have this barkada who works in a justice system. Have a legal mistress because he can take care of his family and the mistress at the same time all the luho kaya nya ibigay.

Depende sa bisyo mo and how big is your family if pa spa spa lang bisyo mo and isang anak kasya na yan.

Sample breakdown lang

Wife = 500k/ year

Per kid = 550k /year (tuition, baon luho)

Household expense = 600k/year

Holiday travel = 100-200k

p#ta on the side = depends if escort around 30-50k a month may condo ako so tipid na minsan sa hotel bills

Misc - 200k / year (home expense hospital bills

The rest will go to passive income investment.

For drive in garage open malate branch and

Malibay wood street branch.