money Financial Planning

[HouseBand]

despite all of my mistakes, missed opportunities, late starts, and other dumb financial moves, i believe one of my smarter financial moves was buying a share in a hospital.

 

you read that right. singular. just one share. not to make money out of, but as a long term financial tool.

 

with that share, me and my spouse, plus all my dependents (parents and children) enjoy a 50% discount from all doctor's consultations held at that hospital.

 

me and my spouse also get the same 50% discount on all procedures. dependents get 25% off.

 

plus we get 30 (or was it 45) day of waived room fees in case any of us need to be confined.

 

beats your medicard or HMO anytime. medicard programs usually end coverage after 60-65y/o old. which also happens to be the age where you are most likely to start need more medical attention.

 

bought my share a a quarter of a mill, last i checked, it is now worth upwards of 385k.

 

syempre ang key is to pick and find a hospital that is just being built in your area that is operated by a consortium with a good track record.

[JohannBeckham]

despite all of my mistakes, missed opportunities, late starts, and other dumb financial moves, i believe one of my smarter financial moves was buying a share in a hospital.

 

you read that right. singular. just one share. not to make money out of, but as a long term financial tool.

 

with that share, me and my spouse, plus all my dependents (parents and children) enjoy a 50% discount from all doctor's consultations held at that hospital.

 

me and my spouse also get the same 50% discount on all procedures. dependents get 25% off.

 

plus we get 30 (or was it 45) day of waived room fees in case any of us need to be confined.

 

beats your medicard or HMO anytime. medicard programs usually end coverage after 60-65y/o old. which also happens to be the age where you are most likely to start need more medical attention.

 

bought my share a a quarter of a mill, last i checked, it is now worth upwards of 385k.

 

syempre ang key is to pick and find a hospital that is just being built in your area that is operated by a consortium with a good track record.

I agree with the the importance of health care as part of our financial plans.

 

Ako nmn i go the immigration route, meaning i move into a country where i dont have to fork out out of pocket expenses for health care here in Australia. I think Canada has the same policy. Of course our taxes are 1-3% higher compared to other places so i wont say it's free.

[MRROUGHSEX]

20190501 Updates:

* Reduce total debt to $58K by year-end (currently at $68.0K)

* Grow retirement savings to $170K by year-end (currently at $157K) (Note: Conservative case at 92% of actual)

* Anticipate house value to appreciate to $280K by yea- end (currently at $270.8K)

* Increase college savings of children to $20K by year-end (currently at $15.0K)

* Buttress business fund to $65K by-year end (currently at $58.2K) (Note: Conservative case at 92% of actual)

* Expect condo value to appreciate to $50K by-year end (currently at $48.8K)

Adding:

* Drum up social security yearly earnings to $21.0K by year-end (currently at $20.4K)

[HouseBand]

 

i'm currently reading the richest man in babylon.

how i wish i had read this one earlier.

so imma gonna make sure my kids read and internalize the lessons in this book.

 

will try and dig up my copy of kiyosaki's rich dad, poor dad as well

 

 

medyo paraphrased from the original text. probably to make it 'current'.

but still inspired nonetheless

[MRROUGHSEX]

I like all those 7 Principles from the Book. NIce share HouseBand!

[JohannBeckham]

 

i'm currently reading the richest man in babylon.

how i wish i had read this one earlier.

so imma gonna make sure my kids read and internalize the lessons in this book.

 

will try and dig up my copy of kiyosaki's rich dad, poor dad as well

 

 

medyo paraphrased from the original text. probably to make it 'current'.

but still inspired nonetheless

I like these principles except for the 10% savings rate. I'm a mustacian (google mr. Money mustache) and our bare minimum savings rate is 50%

[JohannBeckham]

20190501 Updates:

* Reduce total debt to $58K by year-end (currently at $68.0K)

* Grow retirement savings to $170K by year-end (currently at $157K) (Note: Conservative case at 92% of actual)

* Anticipate house value to appreciate to $280K by yea- end (currently at $270.8K)

* Increase college savings of children to $20K by year-end (currently at $15.0K)

* Buttress business fund to $65K by-year end (currently at $58.2K) (Note: Conservative case at 92% of actual)

* Expect condo value to appreciate to $50K by-year end (currently at $48.8K)

Adding:

* Drum up social security yearly earnings to $21.0K by year-end (currently at $20.4K)

Solid returns. Base on this trajectory, how long do you still need to reach your financial independent status?

[PenetrayShawn]

 

i'm currently reading the richest man in babylon.

how i wish i had read this one earlier.

so imma gonna make sure my kids read and internalize the lessons in this book.

 

will try and dig up my copy of kiyosaki's rich dad, poor dad as well

 

 

medyo paraphrased from the original text. probably to make it 'current'.

but still inspired nonetheless

 

Kiyosaki's Cashflow Quadrant (follow up to Rich Dad Poor Dad) is also good. The books after that got a little long so tinatamad ako magbasa

[MRROUGHSEX]

Solid returns. Base on this trajectory, how long do you still need to reach your financial independent status?

Reallly depends with what happens with my parents. Health care cost is a wild card. Typical Pinoys who are retired with no savings and minimum social security that is not even enough to pay rent alone.

[HouseBand]

the low daily post limit is a bit of a bitch.

The current overall thrust of my financial journey is establishing multiple income streams.

Doesn't look like I'll be an employee again anytime soon.

So working on trading well enough to consistently earn from it.

Tapos focus on setting up passive sources of income

 

 

i think myself a bit lucky pa din considering that i got a pretty good run at being a well compensated employee.

but i lost my edge for most of it. thought i was bomb-proof in my job.

so lucky in a sense that i have no debt.

but i could've saved more or should've worked towards setting up more than one income streams.

 

from where i sit, i think i should try to set up at least 3 sources.

so looking at income from profit, rental, interest, capital gains, and dividends.

but i won't shut the door at the other types.

 

I like all those 7 Principles from the Book. NIce share HouseBand!

 

thanks!

I like these principles except for the 10% savings rate. I'm a mustacian (google mr. Money mustache) and our bare minimum savings rate is 50%

 

 

i'm a bit lost as to what you mean by "bare minimum savings rate".
i think yung 10% is intended as a doable percentage. tapos syempre save as much as you can spare.

i think i read kiyosaki's cashflow quadrant as well.

pero medyo under "milking it" na yung other books niya e.

yung rich dad, poor dad is eye opening for me kasi "poor dad" upbringing ako.

 

study well, get good grades, get a job.

 

in one sense, i admire the chinese and those others who're raised to be entrepreneurial and money savvy by their parents.

 

i am trying to be a "rich dad' for my kids.

 

they can pursue whatever endeavor they may wish. but they better be financially secure

[MRROUGHSEX]

Gusto ko maging Rich-In-Girls Dad hahaha. Pwede ba yun? I think I am in good spot as I am single naman.

[JohannBeckham]

font=tahoma]i'm a bit lost as to what you mean by "bare minimum savings rate".

i think yung 10% is intended as a doable percentage. tapos syempre save as much as you can spare.

 

i think i read kiyosaki's cashflow quadrant as well.[/font]

pero medyo under "milking it" na yung other books niya e.

yung rich dad, poor dad is eye opening for me kasi "poor dad" upbringing ako.

 

study well, get good grades, get a job.

 

in one sense, i admire the chinese and those others who're raised to be entrepreneurial and money savvy by their parents.

 

i am trying to be a "rich dad' for my kids.

 

they can pursue whatever endeavor they may wish. but they better be financially secure

 

Nag simula rin ako sa rich dad poor dad and that got me started investing in 2011 (i know i invested late in the game).

 

But then i continue doing my research and found Mr. money Mustache blog and understand na ang key to early retirement is savings rate.

 

Check out his blog here because this is life changing for me https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

[MRROUGHSEX]

I read the blog. Agree 100%. Yung sinabi nya to cut cable, I did that some years back for about 7 years. But now, since even regular channels are no longer free, kelangan uli mag-cable. I though of getting digital antenna to get free TV pero hindi maganada quality. So now from zero I pay $110 a month.

Check out his blog here because this is life changing for me https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

 

Lattes..I've never been into it. Parang common sense na sa akin wag magbayad ng mahal para lang sa kape so the Starbucks trend is just not shall I say, my cup of coffee haha.

 

In fairness to the 7 Principles, it did mention naman to save "at least" 10% so pwede pa rin mas mataas.

 

Re 7 Income Streams, 2 lang focus ko dyan for now - Earned Income and Capital Gains.

Edited May 2, 2019 by MRROUGHSEX

[PenetrayShawn]

the low daily post limit is a bit of a bitch.

 

 

i think myself a bit lucky pa din considering that i got a pretty good run at being a well compensated employee.

but i lost my edge for most of it. thought i was bomb-proof in my job.

so lucky in a sense that i have no debt.

but i could've saved more or should've worked towards setting up more than one income streams.

 

from where i sit, i think i should try to set up at least 3 sources.

so looking at income from profit, rental, interest, capital gains, and dividends.

but i won't shut the door at the other types.

 

 

thanks!

 

 

i'm a bit lost as to what you mean by "bare minimum savings rate".

i think yung 10% is intended as a doable percentage. tapos syempre save as much as you can spare.

 

i think i read kiyosaki's cashflow quadrant as well.

pero medyo under "milking it" na yung other books niya e.

yung rich dad, poor dad is eye opening for me kasi "poor dad" upbringing ako.

 

study well, get good grades, get a job.

 

in one sense, i admire the chinese and those others who're raised to be entrepreneurial and money savvy by their parents.

 

i am trying to be a "rich dad' for my kids.

 

they can pursue whatever endeavor they may wish. but they better be financially secure

 

 

rich dad adviser series books parang ok naman pero mas pang US yung advice so kailangan ng creativity/diskarte para maapply sa pilipinas. i agree on raising kinds with money sense. it's among skills that would be helpful no matter what path they choose later on in life

[MRROUGHSEX]

My million dollar view: sitting in my patio in the backyard, watching the sunset. Birds chirping and water plinky-planing in the creek below.

 

[MRROUGHSEX]

Remember this post I did a while back?

 

"* Drum up social security yearly earnings to $21.0K by year-end (currently at $20.4K)"

 

 

I have calculated the present value (PV) of the future earning streams and it came out as $360K. BUT that is not really earned as it is based on having worked 15 years from now on current salary. Each year that passes, the closer is the value adjusting to reality.

 

STILL, it is best to account for social security and a semblance of its value. I'm thinking of equating it with my retirement savings UNTIL such time the retirement savings outgrows the social security PV and hence when that happens, the PV amount will takeover as its value. My guesstimate is year 2027 or 2028. I will come back to this message when that happens.

 

And with all that said, I will be replacing this:

 

"* Drum up social security yearly earnings to $21.0K by year-end (currently at $20.4K)"

With this:

"* Drum up social security savings to $170K by year-end (currently at $157K) (Note: PV at $360K for age 62)"

Edited May 3, 2019 by MRROUGHSEX

[HouseBand]

https://www.facebook.com/floiwycocotgfi/photos/a.1136101869779727/2234883129901590/?type=3&theater

 

 

Pano Nagpapahirap Sa Mga Pinoy ang Philippine Entertainment?

 

 

TL; DR (from my POV)

 

Our country has a tendency to romanticize poverty.

 

 

 

[JohannBeckham]

https://www.facebook.com/floiwycocotgfi/photos/a.1136101869779727/2234883129901590/?type=3&theater

 

 

 

 

TL; DR (from my POV)

 

Our country has a tendency to romanticize poverty.

 

 

 

This is true. f$ck poverty. It's limiting human potential and productivity.

 

My main gripe is that we should take responsibility of our own future, life outcome and do not make f$ckin excuses. Do not depend on the Philippine government to solve your problem. Each one of us has a gift that we need to employ that industries are willing to pay for. F$ck if not in the Philippines, maybe abroad. Sorry for the cussing, i don't really cuss that much bit this topic of personal responsibility is near and dear to my heart (or maybe the Australian culture is starting to rub on me). Take action guys, take responsibility.

[PenetrayShawn]

https://www.facebook.com/floiwycocotgfi/photos/a.1136101869779727/2234883129901590/?type=3&theater

 

 

 

 

TL; DR (from my POV)

 

Our country has a tendency to romanticize poverty.

 

 

 

 

romanticize poverty or get drunk on senseless comedies, unlike charlie chaplain types that entertain but have a message beyond family is love etc

 

 

This is true. f$ck poverty. It's limiting human potential and productivity.

 

My main gripe is that we should take responsibility of our own future, life outcome and do not make f$ckin excuses. Do not depend on the Philippine government to solve your problem. Each one of us has a gift that we need to employ that industries are willing to pay for. F$ck if not in the Philippines, maybe abroad. Sorry for the cussing, i don't really cuss that much bit this topic of personal responsibility is near and dear to my heart (or maybe the Australian culture is starting to rub on me). Take action guys, take responsibility.

 

that's why i avoid the pinoy woke/activist social media crowd during the rare times i go on social networking sites. it's just intellectual self-pleasure for them

 

is anyone into forex trading? some friends have been inviting me to seminars and i'm curious if it's worth a try as another potential income stream

[MRROUGHSEX]

I'm not into forex kasi unlike stocks, currency does not grow necessarily over time. So you have to do alot of speculation and market timing on it but if you have time to study the variables (e.g., foreign investments, trade) that impacts their movement and monitor the news, one can take advantage of it. I know it can be done and that is why there are forex traders out there.

 

Re media, nakakabwisit kasi puro drama/iyakan. Yung api complex parati pinapairal. It demonizes affluence and romanticizes poverty. So agree ako dun sa link. But that is what sells kasi profile ng PInas is more than half are poor. Kaya vicious cycle of powerty.

 

Then you have the Catholic church ready to thwart any planned parenthood programs sa media. Mas gus2 ng simbahan ng tulungan ang mahihirap by giving alms to the poor instead of tell people not to give them alms and instead tell the poor to use contraception, limit their family to 1 child policy for now so they won't need alms to feed their potential 5 other children.

[HouseBand]

And it is also in the interests of the real people in power to keep the masses poor and un/mis-educated.

 

They need the votes.

 

So I don't really indulge in local media any more.

 

Hemingways,

 

I'm about to start collecting on a financial endowment product that I took out for my kid's education.

 

Dunno if any here remember the disaster that was the CAP Educational plan around it's last years.

But I wasn't going to risk my money on something like that.

 

Good thing BDO had an endowment product that was suited enough for my particular need.

 

I'll review exactly what I'm getting and what I paid and will get back with the details in a later post

[MartinDomingo]

Nice samples

I dont understand SDQL though . im not that smart hehe

I just know how to cap games. wherein underdogs would win big over favourites and vice versa

you just really need control

 

I have a salary from the company I work with , its only 40K per month. that usually goes to my credit card bills already

my goal for this month to year

 

earn 5,000 per day in sports betting multiply it to 30 days thats 150,000 . multiply it to 12 months . thats 1.8 million

1%-3% I give to the very poor and needy

30% I put in my entertainment and leisure

66-67% I put on savings

 

 

Life is short, I think I have cancer or AIDS lol so I must enjoy life

[MRROUGHSEX]

Nice samples

I dont understand SDQL though . im not that smart hehe

I just know how to cap games. wherein underdogs would win big over favourites and vice versa

you just really need control

 

I have a salary from the company I work with , its only 40K per month. that usually goes to my credit card bills already

my goal for this month to year

 

earn 5,000 per day in sports betting multiply it to 30 days thats 150,000 . multiply it to 12 months . thats 1.8 million

1%-3% I give to the very poor and needy

30% I put in my entertainment and leisure

66-67% I put on savings

 

 

Life is short, I think I have cancer or AIDS lol so I must enjoy life

Admit it, you work for the bookie or is a bookie.

 

If things were easy in sports betting as you say, there should be no more poverty in Pinas.

 

Let's not promote gambling on this thread, perhaps sa Easy Money thread. Iba yung investing sa gambling. I touched on sports betting early just to give inputs but not promoting it.

Edited May 6, 2019 by MRROUGHSEX

[MRROUGHSEX]

I was chatting with a friend in the Philippines. She was talking about throwing a birthday party. Alam nyo na, yung tipong 30 extended families pakakainin mo.

 

This is very central to the poverty problem in Philippines. It starts with parents not smart enough to prioritize where hard earned money should go. Sabi ko bili na lang kayo ng cake para sa bata tapos kayo lang pamilya mag-celebrate sa bahay. Save the money instead. I doubt my advice would be heeded.

 

Dapat kasi mga Jews nag-colonize sa atin hind mgai fiesta party animals Spaniards.

[PenetrayShawn]

I was chatting with a friend in the Philippines. She was talking about throwing a birthday party. Alam nyo na, yung tipong 30 extended families pakakainin mo.

 

This is very central to the poverty problem in Philippines. It starts with parents not smart enough to prioritize where hard earned money should go. Sabi ko bili na lang kayo ng cake para sa bata tapos kayo lang pamilya mag-celebrate sa bahay. Save the money instead. I doubt my advice would be heeded.

 

Dapat kasi mga Jews nag-colonize sa atin hind mgai fiesta party animals Spaniards.

 

Sayang hindi tumagal ang British sa Philippines. Between Spaniards and British parang mas ok na colonizer yung British. Their former colonies on average seem better off than former Spanish colonies lalo na sa South America. Spanish economy hasn't been doing well too so that probably says something about their attitudes on financial matters

 

Nabasa ko din somewhere na iba yung attitude ng Catholic vs Protestant pag dating sa trabaho and pera so that would probably also apply to Spain

 

On another note I've been seeing a lot of credit products lately for Filipinos. I wonder if this will be our version of the subprime mortgage crisis. Easy access to credit, lalo na hindi naman para sa real estate so lalo akong nag aalala