5 Quotes That Will Make You Think of Saving Up for Retirement

This is not my personal collection of quotes and images, but I saved copies of these because it somehow pulled some strings and ideas.  Somehow, this has helped me in my quest for financial literacy. 

I am sharing this to you, in the hope that you will somehow learn a thing or two.  And find your own financial freedom.

If you want to learn more financial tips, ideas and seminars, please like http://www.facebook.com/FinancialFreedomBlueprintPH.

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Quotes on Why You Need A Life Insurance

Some of you may not believe in what life insurance can do for you and your family.  A lot maybe doesn't even bother and think they don't need it.  But these are quotes I got from the internet and made me believe how life insurance will take care of the ones I love.

** These are not my quotes, and I just feel inspired by what these people said about it.

If this made you realize about getting your life insurance, act on it now.  Sometimes later becomes never.  

If you want to know more about Financial Planning, please like the page http://www.facebook.com/FinancialFreedomBlueprintPH.

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3 Things That You Thought Are Good Retirement Plans

I have come across people who think retirement is age 65, some 60, and others as early as 50. After talking to maybe a thousand people (on rough estimate), one on one, they seem to think it is their right. A right to stop working at the age they prefer or like.  But retirement is more than an age or a number. It is a GOAL.  A goal to stop working and relax and enjoy your last years at a certain age YOU HAVE PREPARED FOR.

If I ask people if they have set aside for this goal, the answer is a blank face with no certain answer to my question. And then, they enumerate things they call retirement plan.  But I disagree.  Here is why:

Image courtesy of http://reachmymoneygoals.com/wpblog
/category/retirement-plan/

YOUR HOUSE & LOT IS NOT A RETIREMENT PLAN.  It is an asset you can keep where you can stay comfortably in your twilight years.  If you sell your house and lot, you will be forced to rent or pay for a home you already had before.  You will just be going to liquidate an asset to get the lump sum money but will diminish and be used up in time.  And some retirement CAN BE LONG. 

But if you’re going to sell it, and buy a smaller house to maintain then I say that is a good move.  Maintaining a big house means big expense.  Maintenance and utility bills can be a big chunk in your monthly expenses so moving to a smaller place can be a good move for you.

YOUR CHILD/CHILDREN IS NOT A RETIREMENT PLAN.  I’ve heard this on and on from ageing parents that they have their children to take them in when they are old, but sorry your child/children is not a retirement plan.  You will put them in a position where they have to financially support you while supporting a family.  The stress they will have to put through just to get everything together and paid is really hard for start-up couples with children.  If you want your child/children to be financially stable, help yourself.  And maybe then, they can start their lives with responsibility and a lot of savings.

YOUR SSS AND RETIREMENT PAY MAY NOT BE ENOUGH.  Your SSS can be your monthly pension and your retirement pay from your employer can be your lump sum pocket money.  But believe me, these two may not be enough for you.  If you want to know how to compute for your monthly SSS pension, please go to http://mamaravesph.blogspot.com/2013/12/how-to-compute-for-your-sss-monthly.html. And if you want to know how much retirement pay you are getting from your employer, please go to http://mamaravesph.blogspot.com/2014/10/abc.html.  Medicine costs at your fragile years can eat up your whole SSS monthly pension, and one hospitalization can eat up your whole retirement pay.

The key here is saving more than what is expected and deducted to you by the government.  You should have shaved a percentage of your earnings from your monthly income and invest in an investment tool you can feel secured.

If you want to know more about Financial Planning tips and ideas, please visit http://www.facebook.com/FinancialFreedomBlueprintPH.

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Quotes On Why You Should Be Investing

These are quotes that made me realize I should be investing, NOT just saving up money.  I should have learned this earlier, the wonderful thing called 'COMPOUNDING INTEREST'.

And although I never got indebted, this keeps me on track and reminds why I always wanted to be 'DEBT-FREE'.

And these made me explore and research investment that fits me and my goals.

On creating a PASSIVE INCOME..

 And staying invested, long term.

And why I still save up until now..

Hope this inspires you too, to save and invest for your future you.  Happy investing!

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Extravagant Christmas Gift Suggestions For Your Family

Extravagant Christmas Gift Suggestions For Your Family

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FinancialFreedomBlueprintPH

As christmas comes near, a lot of us maybe scrambling to the malls to get that very new toy, that shiny new phone or tablet for you, your spouse and your child. I have other suggestions that can make this christmas more special and make you feel extra generous to your family!

1).  INSTEAD OF GETTING A NEW DESIGNER BAG OR IPHONE6 FOR YOUR WIFE, GET A LIFE INSURANCE FOR YOU TO PROTECT YOUR FAMILY.  Your insurance is a priority you have been setting aside for a long time. It's the best time to get one right now and give the gift of protection your family needs. Your insurance is far better than the new iPhone 6 your wife is salivating to.  Make your wife and children be assigned as beneficiaries.  The benefit amount is bigger than your iPhone's cost when you leave them. Even the fund value is far better after a few years, even if you're still alive. 

2).  INSTEAD OF GETTING THEM THE BEST TOY THIS CHRISTMAS, GET THEM A MUTUAL FUND. The amount you are willing to spend for a new toy maybe sufficient enought to get one or add to their 'angpao' or christmas money to open an ITF account. You just need php5,000 to start this investment. (If you want to know how to open a Mutual Fund Account for your kid/s, please go to http://mamaravesph.blogspot.com/2014/11/how-to-open-mutual-fund-account-for.html)

3).  INSTEAD OF GETTING THAT NEW WATCH/SHOES/TABLET FOR YOURSELF, GET STARTED ON FUNDING YOUR RETIREMENT. We both know your SSS benfits plus your company benefits won't be enough when you grow old, so start investing for your older self. The money you set aside can start up a Mutual Fund account, a VUL (Variable Life Insurance), UITF and purchase some stocks. 

Every Christmas is a time to celebrate, so why not try celebrating Financial Freedom this year?  This gift suggestions are better in value and multiplies your money.  Rather than getting gifts that loses its appeal, usefulness and monetary value in a year's time, why not get something that continues on 'giving' and gains value every year?

The choice is yours, my friend. 

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How to Open a Mutual Fund Account for your Child

sample of a Mutual Fund Kit
from Sun Life Financial

So, you are sure your kid is getting a lot of “angpao” or Christmas money this season from his/her godparents?  Why not open an IN-TRUST FUND for your child?  You just need Php5,000 to get one!

If you want to know how to do this, just follow these instructions:

1.  Choose the Mutual Fund company / Financial company you want to invest in.    There are so many Mutual Fund companies available in the market, and each one have their information on the internet.  The ones I know are Sun Life Financial, Philam, First Metro (Metrobank), Philequity and ATR Kim Eng.  Just do your own research and where you think you can trust your child’s ‘hard-earned money’.

2.  Contact your Mutual Fund Representative (if you know someone) or contact your chosen Mutual Fund company so they can provide you with a Mutual Fund representative.  I think you cannot invest in a Mutual Fund, unless you talk to a Mutual Fund rep (they need a license to sell this investment).  Be sure to set up an appointment on a place and time you are comfortable and have a lot of time to spare to listen and discuss this investment with your Mutual Fund rep.  He/She has to explain the investment you are getting, the funds you can choose from and process all your papers.

3.  Let the Mutual Fund Rep explain the whole product to you and listen intently.  The explanation might be long and very hard to understand, but try to digest it and how it will work specifically for your child’s money.  He/She will introduce to you different funds to choose from and analyze your risk appetite (if you are conservative or aggressive when it comes to investment), then explain the management fee (or charges) about the fund you may choose.

4.  Ask a lot of questions.  Ask questions that may help you understand the investment better.  Ask questions to clarify things you don’t understand and things you think you understand.  Ask questions that will touch present and future transactions too, like how to withdraw from the fund, how long to process subscribing and getting out of the fund and charges to your fund.

5.  Fill up the Risk Profile Questionnaire.  This form is like a survey that will help the company and your mutual fund rep analyze what kind of investor you are, what you look for an investment and how long (more or less) you intend to stay invested.  This survey is for you, and although this is your child’s money your kid needs you to answer this for him/her.

6.  Fill up the Application Form.  This will contain information about you and of course, your child.  Don’t forget to mention to your mutual fund rep that this fund is specifically opened for that purpose.  In this application form, they will ask you basic information about your child.

7.  Provide your Tax Identification Number (TIN).  From what I know, all Mutual Fund companies require a TIN from a parent opening the account.  So, make sure you have a copy or just a record of your TIN.

8.  Provide a photocopy of your government I.D. and a photocopy of the child’s NSO issued birth certificate.  Mutual fund companies usually requires photocopies of two (2) ID’s from the parent, and one (1) ID has to be government issued.  For your child’s record, they may also require a photocopy of your child’s NSO issued birth certificate. 

9.  Give specimen signatures on the Application Form.  This will seal the deal and give the mutual fund rep a go signal to process your subscription or purchase of a fund.  This will also serve as their record to check on signatories, in case you need to do a partial withdrawal or completely withdraw from the fund.

10.  Pay Php5,000.  Really it is that cheap!  If you want to add little by little, you can also do so for as low as Php1,000.

11.  And finally, ask for an Acknowledgment Receipt or Receipt of Purchased/Subscribed Fund.  This is the proof of your investment and payment.  You may ask for a Certificate of Investment after they process your application.

Congratulations!  Your child is now a young investor!  Just don’t forget to add up to your child’s fund every now and then and I’m sure he will be assured of his future. 

I hope you find this simple and easy to follow.  And I hope you find it useful too that you can apply it to your child’s application.

If you want to start this for your child, let me know and I can refer you to a Mutual Fund Representative. Just email financialfredomblueprintPH@gmail.com or text 0905-2382277

If you want to get more financial tips and ideas, please like the Facebook page of FinancialFreedomBlueprintPH.

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