Financial Planning

[telcoking]

---

HAVE YOU GUYS STARTED FINANCIAL PLANNING yet?

How important Financial Planning is?

I never appreciate it or even think about it, until now that I'm 31 years old
and I already have my own family, when my monthly expenses are growing.
Expenses include monthly house rent, utility bills, childs needs &
monthly immunization, groceries and other unexpected expenses.
Then now I have realized that it would be better if I start my financial planning
on my younger years or as early as I started earning because during at that
time I have lesser expenses . Income is just for me, dont have rent to pay
and ulitity bills coz I'm still living with my parents, no child expenses coz
I'm still single at that time, even food and groceries are free. I would have
more extra money to save or invest but sadly all my earnings are gone with
the wind, all are spend on useless and impratical expenditure. If only I am
already educated or aware of different investment opportunities before all
my wasted earnings would have been invested to something that
I would already enjoy its returns at this moment,but it's not yet too late to start
saving today, not just saving bt investing.


Why do we have to invest our savings instead of just putting it in the bank ?


When my wife and I got married two years ago, we opened a joint bank account
and deposited it to a bank, that money came from cash gifts that we received
during our wedding day. But for two years now our money grew only few
hundred of pesos, I think bank savings interest is not even 1% annually, with the
increased inflation rate yearly, I think it's already 4% now, which way more
higher than bank interest rate and also inflation is increasing yearly. Then I have
realized that the money that we put in the bank would have been earning more ,
for example let say its one hundred thousand pesos with bank's very low interest,
and with inflation rate, the value of our one hundred thousand would only be
eighty thousand few years from now. So I would've think twice again and find
better investment that would grow my money more than the inflation rate.

One day I met a friend who was a financial advisor which he belongs to one
of the top financial company here in the Philippines, I would not mention the
company so that it will not sound that I'm promoting something here and he offer
me an investment some what similar to stock trading but lesser risk, I got interested,
he offer me mutual funds, it is where the money that I put in will be invested on top
companies here in the Philippines, where I also become a share holder of a certain
company, it has higher returns and lesser risk because they have professional fund
manager that closely monitoring it. And He also offer me a VUL or Variable Life Insurance,
When I heard the word insurance, I said to him wait, I'm here looking for investment
not extra expenses for getting insurance. Because my perception of insurance like what
my parents have before. Is you pay a certain premium and you only get a certain amount
if the insured die. But when he explain it to me, what I have in mind is the tradition life
insurance, insurance have evolved also, Variable Life insurance (VUL)is an investment
driven with protection, its like mutual fund with life, health or income protection,
where the premium money you put in is invested and you can withdraw it any time at
the same time you have life protection. In life uncertainty whatever happens to you
your beneficiaries will get a certian amount of money including the money invested and
the money it grows. This investment can also be use for building your dreams like house,
childs education, travel and liesure, & retirement.


After talking with my wife about the investment, and we weigh the pros and cons.
And we decide to go for it, we get a Variable Life Insurance for me as the bread winner.
The plan that we choose is we are paying twenty thousand pesos quarterly for 10 years.
And whatever happens to me my benefeciaries would get 2.5 million and have from health
benefit also, and I could also withdraw any time from the twenty thousand quarterly that
I put in, but its best not to withdraw and let the money grow for few years and its even
possible that the money you put in will double or triple it will depend on the years before
you withdraw it. We also get plan for our 1 year old son intented for his college education,
we are paying twenty two thousand annually for ten years and with a life protection coverage
of 1 million and the money is projected to be 1 million plus when he reaches the age 20.
The premium that I'm paying maybe too big for some and small for others but the best thing
about it is its up to you how much money you can set aside, The plan istailor fit for you.


Im making this thread for people who are planning to invest but dont know how and
where to invest. You can PM me or post if you have questions that needs enlightenment.
And also to people who have other investment better and what I have now so that we can
share it to others also. feel free to share your thoughts and ideas. So that more people
could experience financial freedom and can plan ahead for the future.

[medwarc]

In my personal opinion bro, it would be better if you only get mutual fund for your son. Not those with life insurance. Because a 1 year old kid doesn't need an insurance and I do believe it's the investment side that attracted/convinced you.
By the way, what's the projected amount of your life insurance once matured?

[telcoking]

In my personal opinion bro, it would be better if you only get mutual fund for your son. Not those with life insurance. Because a 1 year old kid doesn't need an insurance and I do believe it's the investment side that attracted/convinced you.
By the way, what's the projected amount of your life insurance once matured?

sa insurance nako after 10 years @ 8% growth ang amount na sa money is 800t if @ 10% 900t
so sa ten years time mabalik tanan ako money hopefully
sa company wer I get my insurance ang growth history nila for the pass ten years kay 15% average daw
so if same ang trend sa market I could get more than 900t after ten years, plus kato 2.5m coverage nako still
in force incase something happen to me,


actually naa pud koy mutual fund, kato sa son nako at least kung di niya hutdon og withdraw ang fund until he dies
in force to ang 1m for his benefeciaries. ni kuha lang ko nai at his age at least barato pa ang premium kay bata pa then
dako ang coverage,

[medwarc]

sa insurance nako after 10 years @ 8% growth ang amount na sa money is 800t if @ 10% 900t
so sa ten years time mabalik tanan ako money hopefully
sa company wer I get my insurance ang growth history nila for the pass ten years kay 15% average daw
so if same ang trend sa market I could get more than 900t after ten years, plus kato 2.5m coverage nako still
in force incase something happen to me,


actually naa pud koy mutual fund, kato sa son nako at least kung di niya hutdon og withdraw ang fund until he dies
in force to ang 1m for his benefeciaries. ni kuha lang ko nai at his age at least barato pa ang premium kay bata pa then
dako ang coverage,

Bro, kadto imo mutual fund, separate jud to nga mutual fund or kadto na bundle sa imo life insurance? If separate, pwede ra man diha na ka mu bundak ug butang rather than kuha pa ka VUL para ra sa imo anak.
Ako gi try ug compute imo ma bayad tanan sa imo insurance, total nimo ma pay is P800k:
P20k x 4(quarterly) = P80000 x 10 yrs = P800,000. Di ba alkansi or bug-at ra?

[Fflic]

up ta ni, nindot ni for someone planning on investing

- - - Updated - - -

[telcoking]

Bro, kadto imo mutual fund, separate jud to nga mutual fund or kadto na bundle sa imo life insurance? If separate, pwede ra man diha na ka mu bundak ug butang rather than kuha pa ka VUL para ra sa imo anak.
Ako gi try ug compute imo ma bayad tanan sa imo insurance, total nimo ma pay is P800k:
P20k x 4(quarterly) = P80000 x 10 yrs = P800,000. Di ba alkansi or bug-at ra?

yes naa pud ko separate lang nga mutal fund, yah you have a point, if naa pako extra money sa separate na mutual fund nako
mo butang, ang vul sako anak nasugdan na ipadayon nalng, i forgot to mention pud diay ako vul naa pato riders nga Accidental Death, Dismemberment and Disablement Benefit and Hospital Income Benefit if ever ma admit ko they will give me 2.5t per day for a total of 1000 days. Medyo bugat bt di raman gud tingali angkalsi. ako pud kung di ko kuha insurance magasto rapud sa lain ang
money nga walay padungan

[Pussifier]

just stay focus sa imo investments. the next 10 yrs could be very volatile. your expectation of 8% growth could be a -50% drop for one year if financial crisis hit us. #walangforever

I also have a VUL with 3.5M coverage. Bsta breadwinner ka dapat always protected.

[amorchuckie]

ayay murag AXA man ta ani padulong dah.hehe

[BatmanBeyond]

Every person has different financial needs jud. There's no product that is one-size-fits all. Some wants protection, so why get a VUL? There are other products that will answer your need. Some here wants retirement fund or college funds, you can have a lot of options here like MFs, UITFs or stocks investment.

What is always important is to answer the need and not the other way around. A better financial planner will always address you financial needs and your plans in the future.

[telcoking]

Dili ni axa ang akoa, comparing different company, mas naka uyon ko dire sa company where i invest, mas nindot og performance the past years,
and mas higher ang projected nga returns bt of course pag depend gihapon sa market. bt there nothing wrong with axa also, its just
where you fell your money if safe and where your money grow more.