money Financial Planning

[JohannBeckham]

Gusto mong yumaman?! Sali ka na sa networking group ko. Power!!! 😂😂😂✌️✌️✌️

Seriously, tingin ko wala sa line of work or annual income yan. Depende sa lifestyle yan...From your total income, how much you save vs how much you spend

Networking??? F*uck networking! I will never join any of those, and you shouldnt too

[Papa Popoy]

Networking??? F*uck networking! I will never join any of those, and you shouldnt too

Wahahahahaha...wala akong sinalihan. Napansin ko lang na maraming nanghihikayat na nagtatanong kung gusto ko daw yumaman..sinasagot ko tuloy na mayaman na ako 😂😂😂

[JohannBeckham]

Wahahahahaha...wala akong sinalihan. Napansin ko lang na maraming nanghihikayat na nagtatanong kung gusto ko daw yumaman..sinasagot ko tuloy na mayaman na ako 😂😂😂

Networking tska VUL. Those two products is what i hate the most. Pang gugulang ginagawa sa mga tao.

[JohannBeckham]

[quote name="sexdrive9000" post="14706206" timestamp="1572955637"

Johann have you ever thought of reinvesting or investing your money into things here in the Philippines or completely AUS na lahat ng investments and ipon mo?

 

Gotta agree on networking/mlm. But gotta disagree on VUL, it does have value to it. Ang problem lang is na ooverpower ng drive to earn commissions ng isang insurance agent (I refuse to call most of them financial advisers since a lot don't know s@%t about finance) vs. actually teaching people on how to manage their finances and the available money making tools at their disposal.]

 

First reason why im not investing my money directly in Philippine assets is because thru my international ETFs, im already indirectly invested in Philippine companies e.g. SM Investment Corp, Ayala land, BDO, JG Summit,etc. (Total of 29 Philippine domicilled companies). I don't want Philippines to overweight my international (excluding U.S.) stock allocation since Philippines is such a tiny economy compared to other economies in the world e.g. Japan, Great Britain, France, Canada, China, etc.

 

Second reason is I'm not 100% sure if i want to retire in the Philippines. Since Australian passport ako, i have options to retire elsewhere like Portugal, Spain, Italy,France, etc. Or heck, i could go live in regional areas here in Australia or buy an RV and drive around Australia or buy a sailing boat and sail around, its not necessary for me live overseas. So the long and short of it is, i have tons of options and i'll decide where i want to retire later when im near retirement.

 

Third is the simplicity of my passive approach to investment of index fund true ETF. Its set and forget. Plus filing my taxes is super easy. It only takes minutes to prepare my tax especially automatically fill in sya sa online tax form. I also focus on australian tax law and so far im up to date. My mental load is lighter kasi my asset is domiciled in Australia lng and i only have to concern myself on Australian laws/rules. Magbago bago man ang batas sa Pinas, magpapalit palit man ng presidente/senador/congress, di ako affected. Happy life.

Edited November 7, 2019 by JohannBeckham

[JohannBeckham]

 

Gotta agree on networking/mlm. But gotta disagree on VUL, it does have value to it. Ang problem lang is na ooverpower ng drive to earn commissions ng isang insurance agent (I refuse to call most of them financial advisers since a lot don't know s@%t about finance) vs. actually teaching people on how to manage their finances and the available money making tools at their disposal.

Do you happen to sell VUL?

Do you have VUL yourself?

How much (% wise) of your investment is tied to VUL if I may kindly ask?

[neville]

I read an article about computing your emergency fund written by Fitz Villafuerte, RFP.

 

The article is found in https://fitzvillafuerte.com/emergency-fund-calculator-how-much-money-do-you-really-need-to-save.html

 

To compute for the emergency fund, the formula he used is:

 

Emergency Fund = (ME x 6) + (IM x 3) + (ME x IH) + PE

 

Using that formula, I made some adjustments to my own value. Instead of omitting my savings, insurance, and investments in the equation, I included them (turns out these three items make up 40% of my budget) and upped my no work period to 12 months (hey, I am part company owner, part freelancer).

 

All in all, I should save 1.3 million pesos for my emergency fund.

 

Currently, I only managed to scrape 10% of it.

 

Damn.

 

Hustle, hustle, hustle!!!!

[pinktounge]

Still better than nothing lalo kung icompare mo sarili mo sa majority ng mga pinoy right now kahit malaki sahod isang kahig isang tuka pa rin

I read an article about computing your emergency fund written by Fitz Villafuerte, RFP.

The article is found in https://fitzvillafuerte.com/emergency-fund-calculator-how-much-money-do-you-really-need-to-save.html

To compute for the emergency fund, the formula he used is:

Emergency Fund = (ME x 6) + (IM x 3) + (ME x IH) + PE

Using that formula, I made some adjustments to my own value. Instead of omitting my savings, insurance, and investments in the equation, I included them (turns out these three items make up 40% of my budget) and upped my no work period to 12 months (hey, I am part company owner, part freelancer).

All in all, I should save 1.3 million pesos for my emergency fund.

Currently, I only managed to scrape 10% of it.

Damn.

Hustle, hustle, hustle!!!!

[neville]

Still better than nothing lalo kung icompare mo sarili mo sa majority ng mga pinoy right now kahit malaki sahod isang kahig isang tuka pa rin

 

 

Hindi ko inihahambing ang sarili ko sa ibang tao. Hard lesson learned yon. Focus on yourself and no one else.

 

May hinahabol kasi akong goal. Noon ko pa naisip yon...early 20s pa lang ako. Lately, I realized that I do not like the feeling of not being able to have the money to use when an urgent or sudden expense pops up. Ang hirap kumilos kapag wala kang iikutang lugar. Ang hirap ng ipit ka kasi sakto lang budget mo.

 

Also, totoo ang sinabi ng ibang financial experts, tumataas ang confidence mo sa sarili mo kapag alam mong may pera ka, kesehodang mapagkamalan kang shoplifter, kapag isinampal mo sa buong staff ang card mo, mabibili mo ang lahat ng tinda nila nang walang kurap. Kaya mo silang titigan sa mata at confidently mo silang mababara kapag minamaliit ka. Lumalawak mundo mo kasi kahit upscale store, hindi ka mahihiyang pumasok, kasi you can afford it.

 

That is what I am after. Naranasan ko kung paano maging kawawa kasi sapat lang pera mo. Ayoko nang balikan yon.

 

That's why I work like I have 5 kids. Ayokong maipit sa iisang economic strata lang.

[JohannBeckham]

 

 

Hindi ko inihahambing ang sarili ko sa ibang tao. Hard lesson learned yon. Focus on yourself and no one else.

 

May hinahabol kasi akong goal. Noon ko pa naisip yon...early 20s pa lang ako. Lately, I realized that I do not like the feeling of not being able to have the money to use when an urgent or sudden expense pops up. Ang hirap kumilos kapag wala kang iikutang lugar. Ang hirap ng ipit ka kasi sakto lang budget mo.

 

Also, totoo ang sinabi ng ibang financial experts, tumataas ang confidence mo sa sarili mo kapag alam mong may pera ka, kesehodang mapagkamalan kang shoplifter, kapag isinampal mo sa buong staff ang card mo, mabibili mo ang lahat ng tinda nila nang walang kurap. Kaya mo silang titigan sa mata at confidently mo silang mababara kapag minamaliit ka. Lumalawak mundo mo kasi kahit upscale store, hindi ka mahihiyang pumasok, kasi you can afford it.

 

That is what I am after. Naranasan ko kung paano maging kawawa kasi sapat lang pera mo. Ayoko nang balikan yon.

 

That's why I work like I have 5 kids. Ayokong maipit sa iisang economic strata lang.

Wise words from Neville! Thanks for sharing

[JohannBeckham]

In the same theme ng ni share ni Neville, share ko lng tong favorite video ko from jim collins about having a "F@ck You Money"

 

https://youtu.be/eikbQPldhPY

 

Kya ipon na ng F-You Money mga tsong at Tsang!

[Papa Popoy]

Hindi ko inihahambing ang sarili ko sa ibang tao. Hard lesson learned yon. Focus on yourself and no one else.

 

May hinahabol kasi akong goal. Noon ko pa naisip yon...early 20s pa lang ako. Lately, I realized that I do not like the feeling of not being able to have the money to use when an urgent or sudden expense pops up. Ang hirap kumilos kapag wala kang iikutang lugar. Ang hirap ng ipit ka kasi sakto lang budget mo.

 

Also, totoo ang sinabi ng ibang financial experts, tumataas ang confidence mo sa sarili mo kapag alam mong may pera ka, kesehodang mapagkamalan kang shoplifter, kapag isinampal mo sa buong staff ang card mo, mabibili mo ang lahat ng tinda nila nang walang kurap. Kaya mo silang titigan sa mata at confidently mo silang mababara kapag minamaliit ka. Lumalawak mundo mo kasi kahit upscale store, hindi ka mahihiyang pumasok, kasi you can afford it.

 

That is what I am after. Naranasan ko kung paano maging kawawa kasi sapat lang pera mo. Ayoko nang balikan yon.

 

That's why I work like I have 5 kids. Ayokong maipit sa iisang economic strata lang.

 

Makakawawa ka naman parang pasan mo ang daigdig 😂✌️ Ako nman e nagseset ng realistic goal...hindi naman kelangang magwork hard, though i am also working hard 😂 ...and smart 😉 i totally agree na hindi mo dapat kinukumpara sarili mo sa iba, kasi malulungkot ka lang 😂 kung ayaw mong maniwala, try mong ikumpara Investments mo sakin...este kay JB pala 😂😂😂✌️✌️✌️

[neville]

Makakawawa ka naman parang pasan mo ang daigdig ✌️ Ako nman e nagseset ng realistic goal...hindi naman kelangang magwork hard, though i am also working hard ...and smart i totally agree na hindi mo dapat kinukumpara sarili mo sa iba, kasi malulungkot ka lang kung ayaw mong maniwala, try mong ikumpara Investments mo sakin...este kay JB pala ✌️✌️✌️

 

 

Hahahahahaha!!!!!!!!!!!!! May daya naman kina JB at MRS, pareho silang nasa abroad. Monetary value pa lang, talo na ako.

 

Wala pa akong 1 M sa bangko, di pa talaga ako makakampante.

[JohannBeckham]

 

 

Hahahahahaha!!!!!!!!!!!!! May daya naman kina JB at MRS, pareho silang nasa abroad. Monetary value pa lang, talo na ako.

 

Wala pa akong 1 M sa bangko, di pa talaga ako makakampante.

Yeah I agree, malaki advantage kapag nakatira at nagwo work sa first world country like U.S., Australia, Norway, etc.

Pero wag ka, we earn in dollars, but we also SPEND in dollars.

 

If I convert my expenses last month into pesos, here are some of it:

Grocery: Php 60k

Rent: Php 60k

Charity: Php 25k

Eat out: Php 22k

Electricity: Php 17.5k (paid quarterly)

Insurance: Php 10k

Internet: Php 2.5k

And many more.... (NOTE: I consider ourselves very frugal with this budget compared to our peers)

 

So yes I agree that those of us who earn dollars have big advantage, but also please be aware that we also SPEND in dollars. What matters most is the "SAVINGS RATE"! ofcourse it will be big advantage sa higher income earners to save, but if your saving the same rate as me or MRS, you will become financial independent in the same speed/velocity as us. If we both start from zero and we both save 50% of our take home and i earn 10 times as you, we willstill both become financially independent at the same time even though my income is 10 times bigger, something like 17 years or so. Simply because we save at the same rate.

Edited November 12, 2019 by JohannBeckham

[Papa Popoy]

Hahahahahaha!!!!!!!!!!!!! May daya naman kina JB at MRS, pareho silang nasa abroad. Monetary value pa lang, talo na ako.

 

Wala pa akong 1 M sa bangko, di pa talaga ako makakampante.

Ipapalit mo peso mo sa rupiah o kaya sa dong para may 1M ka na rin 😂✌️

Tama si JB, we earn dollars but we also spend in dollars. Tignan mo yung expenses nya napakataas..sa insurance at sa eat out + drink out lang ako mas mataas...+travel pa pala 😉

Edited November 13, 2019 by Papa Pipoy

[neville]

Yeah, I get what JB and Papa Pipoy say. Naalala ko tuloy ang sinabi ng tour guide namin sa Singapore: mataas ang cost of living doon. They just make do with their hustle.

 

Naiisip ko tuloy na ang hard work dito ay may halong suwerte talaga. Kahit magaling ka, kung may hindi ka ibinalik sa universe, hindi ka nito bibigyan ng kahit anong biyaya.

 

Perhaps everything is relative then. Even with money. We here in the Philippines see most first world currency as having the bigger value while forgetting that the cost of living in said countries is way higher.

 

Nonetheless, that does not mean that we should not continue our hustle, regardless of location or marital status. We have to secure our future, we never know if someone can help us when we find ourselves in a bind. That includes the family members and friends we supposedly helped.

 

Enough musing, back to hustling. I have work to do