money Financial Planning

[neville]

asking all the FINANCIAL GURUS out here....if you can save PhP5,000 a month, would you save it in a bank?? ayoko kasi ilaban sa stock market baka mag depreciate yung pera ko....

 

any other ideas except bank deposits???

 

thanks....

 

 

My questions before I answer yours:

 

1. How old are you?

2. Do you have dependents (spouse, flavor of the month, kids, siblings, parents)?

3. Do you have an emergency fund?

4. Do you have a contingency fund?

4. Have you set your financial goals?

5. Do you have debts or are you paying any installment?

 

The questions to your answer determine where the monthly 5K will go.

 

In my case, I put aside 5K for clothes and appliances I bought and will buy in the coming months.

I put aside another 5K for cooperative investing (for my other medium-term goals).

There are other items in my financial goal list where 5K or higher is alloted.

 

 

I hope my answer helps.

[Flash_Brown]

 

 

My questions before I answer yours:

 

1. How old are you?

2. Do you have dependents (spouse, flavor of the month, kids, siblings, parents)?

3. Do you have an emergency fund?

4. Do you have a contingency fund?

4. Have you set your financial goals?

5. Do you have debts or are you paying any installment?

 

The questions to your answer determine where the monthly 5K will go.

 

In my case, I put aside 5K for clothes and appliances I bought and will buy in the coming months.

I put aside another 5K for cooperative investing (for my other medium-term goals).

There are other items in my financial goal list where 5K or higher is alloted.

 

 

I hope my answer helps.

 

 

to answer your question Miss Neville,

 

1. I am 44 years old

2. I have both my parents who are in their 70's and I have 2 sisters but they are well off and I sometimes ask them for money specially on medical procedures but that was only once

3. I have an emergency fund but it's not really that large in the 15K range lang.....

4. contingency fund?? very little din....

5. my financial goal just has been to have at least half a million in the next 10 years when I turn 54-55..... (kaya 5k/month x 12 months = 60k/year x 10 years)

6. I don't have debts at the moment miss Neville...

 

Thank u so much for answering

[JohannBeckham]

asking all the FINANCIAL GURUS out here....if you can save PhP5,000 a month, would you save it in a bank?? ayoko kasi ilaban sa stock market baka mag depreciate yung pera ko....

 

any other ideas except bank deposits???

 

thanks....

I started listening to Dave Ramsey (a U.S. based guru in 2011) and used some of his principles as a newly married person. He teaches the 7 baby steps so sinunuod ko yun.

Step 1: have a beginner emergency fund of $1,000

Step 2: Pay your debts except mortgage

Step 3: have a fully fund emergency fund of 3-6 months of expenses, preperably in a high interest savings account

Step 4: start investing

And so on and so forth up to step 7 (google mo na lng)

 

Sa mga friends ko na nag sisimula p lng, i recommend dave ramsey's principles kasi dali lng maintindihan.

 

These daya im into F.I.R.E. or financial independence, retire early movement which medyo different kay Dave Ramsey. Just search aa Youtube or podcast for ChooseFI and andun lahat ng principles na sinusunod ko.

[Flash_Brown]

I started listening to Dave Ramsey (a U.S. based guru in 2011) and used some of his principles as a newly married person. He teaches the 7 baby steps so sinunuod ko yun.

Step 1: have a beginner emergency fund of $1,000

Step 2: Pay your debts except mortgage

Step 3: have a fully fund emergency fund of 3-6 months of expenses, preperably in a high interest savings account

Step 4: start investing

And so on and so forth up to step 7 (google mo na lng)

 

Sa mga friends ko na nag sisimula p lng, i recommend dave ramsey's principles kasi dali lng maintindihan.

 

These daya im into F.I.R.E. or financial independence, retire early movement which medyo different kay Dave Ramsey. Just search aa Youtube or podcast for ChooseFI and andun lahat ng principles na sinusunod ko.

 

 

will research it sir....Thanks so much for the reply!!

[neville]

 

 

to answer your question Miss Neville,

 

1. I am 44 years old

2. I have both my parents who are in their 70's and I have 2 sisters but they are well off and I sometimes ask them for money specially on medical procedures but that was only once

3. I have an emergency fund but it's not really that large in the 15K range lang.....

4. contingency fund?? very little din....

5. my financial goal just has been to have at least half a million in the next 10 years when I turn 54-55..... (kaya 5k/month x 12 months = 60k/year x 10 years)

6. I don't have debts at the moment miss Neville...

 

Thank u so much for answering

 

 

Paumanhin sa nahuling tugon

 

1. I'm 42. Magkalapit lang edad natin.

 

2. Ah, diyan tayo nagkaiba. Wala akong dependents. Mga pamangkin at Ate na mahilig magpalibre lang sa tsibugan. Pero dahil LDR kami dulot ng lockdown, nakatipid ako lalo.

 

May medical funds ba ang parents mo? Isang matinding sakit lang ang katapat ng instant hospital trip sa susunod.

 

3. Oh boy. Sa panahon ngayon, ang suggested emergency fund value na ay 12 months' worth of your monthly budget. I would think that you do have your monthly budget/expenses listed down somewhere, right? That way, you can compute how much you really need to set aside.

 

Right now, I only have 3 months' worth of emergency budget.

 

4. Yep, save. save. save. 12 months' worth of contingency fund should also make your financial base very solid. I experienced having almost no income from January-March 2020. Good thing my earnings last year were more than enough to cover those lean months. April lang ako nagsimulang mataranta. Sa ngayon, covered na hanggang October. November and up na lang ang wala pa. Kayod mode uli in a few days.

 

5. Honestly speaking, 500K will not be enough. Baka isang taon lang or less kang bubuhayin niyan. Think about your retirement and your expected life span. Kung employed ka, check mo ang BIR 2316 mo. Kung nabubuhay ka nang maayos sa gross annual income mo, multiply that by, say 20 years kung 70s ka na bago ka mamatay. Factor in mo pa ang average 3% inflation rate.

 

Yung makukuwenta mo ang kailangan mong pera para di ka maghikahos kapag retirado ka na. Yan ang dahilan kung bakit ang taas ng net value at passive income ko. Wala akong aasahan at gusto kong komportable buhay ko.

 

6. Good to know you are debt-free. No installment payments din? If so, stay that way

 

 

I started my serious financial planning with a financial advisor aka insurance agent last 2018. Constantly watching financial health videos convinced me that what she taught me is not enough. This December, I will be talking with Registered Financial Planners (local, specifically the Wealth Arkie team) to ensure that my strategies and plans are on point.

 

The consultation will most definitely require a professional fee. However, if that small amount equates to my wealthy future, then that is no issue. Besides, sa dami na ng natutunan ko sa YouTube channel nila, tama lang na suklian ko ang pinaghirapan nila

 

 

Good luck sa ating lahat.

[Flash_Brown]

Miss Neville,

 

Thanks so much for your input, I guess I should really think this through....maybe I would try to get a MILLION in 5 years, then another million in the next five years...

 

much blessings to you as well madam!

[enteng_sotto]

pwede ka na maging certified financial planner Madam Neville! this is a nice room and i just found it just now...

[JohannBeckham]

pwede ka na maging certified financial planner Madam Neville! this is a nice room and i just found it just now...

Kung may tanong ka post ka lng dito

[JamesFub]

 

 

https://168cash.com.tw/

[neville]

Miss Neville,

 

Thanks so much for your input, I guess I should really think this through....maybe I would try to get a MILLION in 5 years, then another million in the next five years...

 

much blessings to you as well madam!

 

 

Walang anuman, sir. Kung bubuklatin mo ang lahat ng pages ng room na ito, lima-anim na taon ang inabot mula nang baon ako sa utang hanggang sa may mas stable na financial foothold ako.

 

Oo nga pala, MAGKAIBA ang emergency at contingency fund. Yung emergency fund ay para sa medical expenses mo. Yung contingency fund ay para sa mga biglaang gastos na wala sa budget mo tulad ng repairs sa bahay o sira sa sasakyan. Hindi kasama ang Lazada at Shopee sale promos sa CF

 

Sa kaso ko ay inuna ko ang contingency fund dahil freelance work ako. Kung pagkatapos ng review ng cash flow at financial goals ko ay mapapagsabay ko na ang budgeting para sa contingency at emergency funds ko, better. HONGTAGAL bumuo ng stash. Nakakainip.

 

Going back to your goal, honestly, 8 figures ang hinahabol kong net worth. Magkakasama na ang cash, assets/investments, savings (aka insurance), at property(ies?). Nakita ko kasi ang nangyari sa mga magulang ko at mga kapatid nila. Walang matinong retirement plan. Ayun, umasa na lang sila sa mga anak nila. Suwerte sila dahil maayos buhay namin kaya maski papaano ay suportado sila hanggang mamatay sila. Yung mga natitirang buhay ay malakas pa at todo alaga mga pinsan ko sa kanila para di magkasakit.

 

Paano kung isang kahig, isang tuka kami? Naku, unthinkable for me. Kayod marino ngayon para relaxed na relaxed lang pag 65 na ako.

 

 

 

 

pwede ka na maging certified financial planner Madam Neville! this is a nice room and i just found it just now...

 

General basics lang alam ko. Kahit ako kinakapa ko pa ang financial plan ko. Hindi ako expert. I still need a lot to learn.

 

Welcome to our room. Masaya dito kasi matino ang usapan at may sense ang talakayan

 

 

 

Kung may tanong ka post ka lng dito

 

 

True!!!

[MRROUGHSEX]

Nakakinspire ka talaga Donya Neville. Keep at it. Ikaw din Don Flash_Brown. Update ka lang dito parati and track it. Sarap kasi makita how one grows over time. It's a testament to having a Financial Plan and using it to improve a person's life - finanially, mentally, emotionally, and sometimes, sexually also , joke lang po.

[Flash_Brown]

Nakakinspire ka talaga Donya Neville. Keep at it. Ikaw din Don Flash_Brown. Update ka lang dito parati and track it. Sarap kasi makita how one grows over time. It's a testament to having a Financial Plan and using it to improve a person's life - finanially, mentally, emotionally, and sometimes, sexually also , joke lang po.

 

 

Thanks so much as well sir and miss NEVILLE...

 

out of my 2 siblings, I am the poorest kaya if ever I really put my mind and soul into it,, I can earn at least 25K per month pero syempre bisyo (spakol and occasional slot machine) buying things at our house and upgrading on my bedroom etc...so the best I can do is at the most 20K per month.....

[MRROUGHSEX]

Are you just starting to save Don FB?

 

Do you already own a house/condo?

 

If not, start saving na for your own! I say salitan mo yung 20K between Time Deposit and First Metro ETF. So by November 2021, we should see your TD at P120K and your FMETF at P120K also, probably 5% more due to gains.

 

Hataw rin sa work. Try to get an average 3% salary increase per year, Every 4 years, your base salary should be 12% higher na. That's how you add more into your savings. If it's not and you can say you have done your best to impress your bosses, then look for one of these:

* better boss in the company that rewards more its team for working hard

* or better company for higher pay for same position

* or next level position whether in same company on from another company (AKA promotion)
* or perhaps a switch in career (but you must prepare for this like 2 years prior) that is going to pay more

 

The above ginawa ko yan lahat that is why I was able to list them.

* My first 4 years I got my 12% increase via promotion.

* My next 4 years I got my 12% via swith in company that pays more for same position

* My next 4 years I got my 12% via switch in career that pays more
* My next 4 years I got my 12% via switch to a different boss that rewards more its team that works harder

 

Tama kasi si Don KD. Look at your income side, not just expense side. People can do the above. I think realistic yan kasi people have 4 years to work on them, sabihin na natin 5 years pag sa Pinas.

 

The next 12% "income" increase is already going to come from ETF investments. This means kahit stuck ka na sa pay (there comes a time this happens), Your total income still grows kasi me "2nd job" ka na via ETF/stock investments.

[neville]

Nakakinspire ka talaga Donya Neville. Keep at it. Ikaw din Don Flash_Brown. Update ka lang dito parati and track it. Sarap kasi makita how one grows over time. It's a testament to having a Financial Plan and using it to improve a person's life - finanially, mentally, emotionally, and sometimes, sexually also , joke lang po.

 

 

Thanks sir. Mababa nga yata tingin ko sa sarili ko kasi pakiramdam ko, ordinaryong tao pa rin ako at walang nararating hanggang hindi ko naabot ang goals ko.

 

Sabi nga ninyo ni JB, kung ikukumpara ko sa sarili ko sa ako noong 2007, mas malayo na nga narating ko.

 

Ang interesante ay bata pa ako, nagkaka-ideya na ako sa financial planning. As in as early as 10 years old. Nagbukas ako ng sarili kong savings account noong grade four ako kasi naaliw akong tingnan at hawakan ang passbook ng mga magulang ko kaya sabi ko, sana mayroon akong akin talaga.

 

In hindsight, kung may maayos na mentors ako noon pa, pihadong mas maaga ang pagiging mayaman ko. Pero, that is water under the bridge. So, on with what we have now.

 

Naku, ibang usapan na ang sex life. Yun na lang ang tagilid talaga ngayon. Hahahahahahaha

 

 

 

 

 

 

Thanks so much as well sir and miss NEVILLE...

 

out of my 2 siblings, I am the poorest kaya if ever I really put my mind and soul into it,, I can earn at least 25K per month pero syempre bisyo (spakol and occasional slot machine) buying things at our house and upgrading on my bedroom etc...so the best I can do is at the most 20K per month.....

 

 

Walang anuman, sir FB. Sa amin ng ate ko, mas mahirap ako. I barely have 200K in savings, siya mga 8 digits na. Magaling siyang humawak ng pera. Maagang natuto sa parents ko at noong nag-asawa, sininop niya kita nila ng bayaw ko. Kaya habang lumalaki mga anak nila, umaayos nang umaayos ang buhay nila. Siya ngayon ang ang nagtuturo sa kanila ng financial literacy...based on her experience.

 

Add income to your stash sir. It doesn't matter if you actively pursue that extra income or if it lands in your lap, basta dapat may extra income ka. Kung may bisyo ka pa, dapat yung base pay mo ang para sa savings, investment, at expenses mo. Yung extra income mo ang para sa investments, savings, at bisyo mo.

 

May bisyo rin ako (pagkain), kaya sakto ang extra income. Hindi sa minamaliit ko ang income mo, pero kung gusto mong huwag nang manghingi sa mga kapatid mo, palakihin mo ang kita at naitatabi mo. Paano kung magkaproblema sila? Kanino ka tatakbo? Walang ibang tutulong sa iyo kung hindi sarili mo lang.

 

Yung napansin ko sa buhay ay ganito, "help will come to you unexpectedly when the universe sees that you are helping yourself."

 

 

 

 

Are you just starting to save Don FB?

 

Do you already own a house/condo?

 

If not, start saving na for your own! I say salitan mo yung 20K between Time Deposit and First Metro ETF. So by November 2021, we should see your TD at P120K and your FMETF at P120K also, probably 5% more due to gains.

 

Hataw rin sa work. Try to get an average 3% salary increase per year, Every 4 years, your base salary should be 12% higher na. That's how you add more into your savings. If it's not and you can say you have done your best to impress your bosses, then look for one of these:

* better boss in the company that rewards more its team for working hard

* or better company for higher pay for same position

* or next level position whether in same company on from another company (AKA promotion)

* or perhaps a switch in career (but you must prepare for this like 2 years prior) that is going to pay more

 

The above ginawa ko yan lahat that is why I was able to list them.

* My first 4 years I got my 12% increase via promotion.

* My next 4 years I got my 12% via swith in company that pays more for same position

* My next 4 years I got my 12% via switch in career that pays more

* My next 4 years I got my 12% via switch to a different boss that rewards more its team that works harder

 

Tama kasi si Don KD. Look at your income side, not just expense side. People can do the above. I think realistic yan kasi people have 4 years to work on them, sabihin na natin 5 years pag sa Pinas.

 

The next 12% "income" increase is already going to come from ETF investments. This means kahit stuck ka na sa pay (there comes a time this happens), Your total income still grows kasi me "2nd job" ka na via ETF/stock investments.

 

 

Mukhang sa First Metro ako didiretso para sa ETF. Walang ETF sa COL. Damn. Hehehehe

 

Agree on your note about income 100%. Saktong nagsabi na rin ang mga RFP (Registered Financial Planners) na dapat umaakyat ang kita mo para makasabay ka sa inflation.

 

Kung bitin ang pambudget mo, dagdagan mo ang kita mo.

 

In other news, kung takot ka sa stock market sir FB, may ibang investment vehicles din tulad ng mga cooperatives at PAG-IBIG MP2. Pero, lalabas pa rin na ang gagamitin mong investment vehicle ay katapat dapat ng short-term, medium-term, at long-term financial goal.

 

 

 

 

 

Nakakalula na ba sinasabi namin? Ganyan din ako noong umpisa. Pero kakapanood ng mga financial videos sa youtube, at habang nakikita ko ang bank accounts, investments, at credit card bills ko, mas naiintindihan ko na sila. Nakakapagsabi na ako ng, "ah, ito pala iyon."

 

So, balik tayo sa unang-unang tanong, may sinusunod ka na bang monthly budget? Kumusta ang saving at spending habits mo?

 

This article from Fitz Villafuerte might help:

 

https://fitzvillafuerte.com/a-two-year-financial-plan-for-beginners.html

[Flash_Brown]

Thanks so much sir MRROUGHSEX and madam NEVILLE,

 

all help are greatly appreciated! I think once the pandemic is over (or at least a cure is established) I will pursue a small business dito sa place namin!

 

salamat muli!