Kung sa nakaraan walang nangyari sa 13th at 14th month pay mo, maaring may magawa ka ngayong taon.
Halimbawa, naitanong mo na ba kung ano ang mararating ng ₱20,000 mo?
Sa isang ₱20k, maaari kang bumili ng tatlo hanggang apat na taon na life insurance na P1m pesos kung age 35 and below ka. Kung kunin ka ni Lord ng maaga, ang mga mahal mo sa buhay ay makakakuha ng ₱1 milyon para kapalit ng kita mo.
Sa isang ₱20k, maaari kang magsimula ng iyong long term healthcare, at mag-bayad ng semi-annual premium (o premium para sa kalahating taon). May sukli pa na pang open ng mutual fund investment account.
Sa isang ₱20k, maaari ka ring mag-invest sa equity mutual funds, na may compounded annual growth rate na 12%. Sa ganitong assumption, ito ay magiging:
₱40k after 6 years
₱80k after 12 years
₱160k after 18 years
₱320k after 24 years
₱640k after 30 years
₱1,280,000 after 36 years
₱2,560,000 after 42 years
Isang ₱20,000 lang iyan!
Kung ₱20k/year for 5 years, starting at age 30
Maaring makakuha ka ng life insurance na ₱1 milyon hanggang 65 years old ka.
Maaring may mutual fund ka na worth ₱2.4 million kapag 60 years old ka na.
Kung ₱20k/year for 30 years:
Maaring kang mag-Buy Term-Invest-the-Difference strategy, combining term insurance and mutual fund investing at 12% CAGR, para insured ka ng worth ₱1 million hanggang age 60 AT may investment na worth ₱2.5 million pag 60 ka na, o ₱4 million kapag 65 ka na!
The earlier you start, the better!
Paano ba makapagsimula?
Maari tayong magusap sa Facebook sa Ask the Money Coach
When your baby arrives, you begin thinking of your child’s future.
Many begin by opening a bank account for the child, promising to oneself to set aside money every month for the child’s future. But realistically, with today’s low savings account interest rates of 0.2% effective rate ( after witholding tax), a thousand pesos per month is expected to grow to only ₱245,000 after 20 years ( or total interest of ₱5,000 after 20 years )
The best protection for your child is a combination of equity mutual funds in-trust-for (ITF) your baby, plus term life insurance for the breadwinner with your baby as beneficiary.
If we set up an equity mutual fund, in-trust-for your baby, assume 12% growth and invest ₱1,000 per month, we get these projected values:
₱1m to ₱2.3m after 20 years, or
₱3.5m to ₱14m after 30 years or
₱12m to ₱86m after 40 years!
This investment can probably suffice to fund your baby’s college tuition after 18 years, or jumpstart family life on marriage after 30 years, or provide retirement as early as 40 years!
This is a great plan, but we know that what actually happens do not always match our plan. What if you die too soon?
If the breadwinner is 31 years old or younger. ₱500 per month can buy ₱1m of life insurance coverage for 18 years.
This means that if the Lord takes you, the breadwinner, home early, and you die too soon in the next 18 years, you can leave ₱1,000,000 for your baby as a parting gift.
With this combination, you protect your baby’s future whether you die too soon, or live long enough to see your child grow!
This solution requires only ₱1,500 a month or about ₱50 per day.
Can you commit ₱50 per day for each of your children?
Ask your questions or put your comments below this.
MONEY MACHINES: HOW TO CREATE PASSIVE AND ACTIVE INCOME AT THE SAME TIME The TrulyRichClub Online Wealth Summit
September 22, 2018, Saturday
8am to 12 noon
at the comfort of your home, or your office
via an Internet connection
Change your mindset to a mindset of abundance, and learn strategies for building automatic money machines, from Bo Sanchez’ mentors!
learn about the stock market from Edward Lee, Chairman and founder of COL Financial (the Philippines’ largest stock market broker)
learn how to invest your money and grow your capital from Rex Mendoza, President and CEO of Rampver Financials
learn from Arun Gogna, the funniest and wittiest preacher you will ever meet, who will inspire you to attain abundance
learn from Bo Sanchez, our mentor, inspiration and friend, who will teach you what you need to know to change your financial life.
If you have ₱ 200 (one hundred pesos), you can attend the first Truly Rich Club Online Wealth Summit this September 22, 2018.
What do we teach non-members in our free financial seminars?
We generally teach concepts to non-members in the free financial seminars. We teach them the value of simple living, investing early and the power of small repeated actions. We teach them about BENEFITS (what product features do for people) and why financial products are necessary.
We make saving, investing and insurance understandable to the layman because we don’t bamboozle attendees (yet) with technical terms.
Building a solid financial foundation and proper protection
Building wealth.
Preserving wealth.
Entrepreneurship
The most common comment in the seminars and workshops is that they finally understand the concepts of saving and investing.
IMG Membership Benefits can be grouped into four classes: (1) financial literacy, (2) access to financial solutions, (3) discounts on products and services, and (4) business in the financial industry.
What do we teach members?
Members have at least 18 member benefits, including eligibility to attend technical product training, conducted by licensed representatives/trainers of our partners. Partner companies teach members about the FEATURES (features is about the product)
For example:
Our insurance product training is handled by Philam.
Our mutual fund product training is handled by Rampver Financials.
Our Kaiser Long Term/Short Term product training is handled by Kaiser International Healthgroup.
Our real estate training is handled by DMCI, SMDC, Ayala Land and Vista Land, etc.etc
We also have special investment seminars, conducted by the most respected names in the financial industry
What do we teach partners?
Partners are members who want to do the IMG business.
We have twice a week partners training, to educate partners about the IMG mission, about membership benefits, and how to build a big business in the financial industry.
We have three big events every year, two international conventions plus the annual Convention of Champions. The Convention of Champions is usually a two-day event, a training day, and a gala night where IMG honors and recognizes its champions for the past twelve months.
IMG is on a mission to help 30M Filipino families achieve financial freedom through education by 2030.
We have the best good-hearted mentors, like Joen delas Penas, Noel Arandilla, Bart Borja, and Rex Mendoza, to inspire and provide directions in this mission.
But Brother Bo Sanchez is perhaps our most inspiring mentor, who “pushes” us to excel and be the best we can be, so that we can be blessings to more people. In our 2015 RISE Convention, he started by saying “Jesus was a businessman!”
He noted that Jesus
spend 17 years as a businessman/entrepreneur,
spent only only 3 years in preaching, healing and driving out demons.
was an apprentice carpenter at age 13
apart from his trade, did accounting, collected payments, entertained customer complaints
Jesus sanctified business! Look at everything as training!
He told IMG members:
“Your service, your product, is the financial freedom, and financial well-being of your customers.”
“Go out there with pride, go out there with joy. There’s nothing to be ashamed of.”
“You do not win the battle in the battlefield.”
“You win the battle, before the battle begins.”
Bo Sanchez related the story of David and Goliath. David said: “I fought and defeated the bear and the lion when I was the shepherd.”
David saw the bear and the lion as training.
Bo added: Look at everything as training! You are facing your lion, you are facing your bear right now. If you see this as training, and you endure, and you persevere, and you don’t give up, it is training you because the Goliath is coming.
And when you defeat the lion and the bear right now, you will have all that you need to defeat the Goliath. And when you defeat the Goliath, you are going to become King.
“I fought and defeated the bear and the lion when I was the shepherd.
— David”
Bo Sanchez ended with two short messages
Always choose growth over money.
If you choose growth, the money will follow.
If you choose money, the growth will not follow.
Grow in your personal life
Grow in your intellectual life
Grow in your relational life
Grow in your spiritual life
Look at everything as training.
See everything as training because bigger things are going to happen in your life.
Live a fantastic life.
If you want to be a part of IMG:
to learn about financial concepts and strategies
to have access to hundreds of financial products
to save money on products, and your own financial transactions
to help family and friends learn about money
to learn and earn, while helping others
then we invite you to attend our membership orientation seminars:
In Quezon City (JIAO Bldg. Timog Ave cor Quezon Ave)
In Makati (World Center Bldg, Sen. Gil Puyat Ave, in front of Mapua)
In Las Pinas (Palm Square Bldg, Alabang-Zapote Road, beside Las Pinas City Hall, across PLDT)
Two years ago, I “retired” from my corporate job, and planned to start my own business intelligence company. But something happened along the way.
I became an IMG member, and a happy warrior in the fight against poverty.
IMG started its mission to help Filipino families become financially free more than 18 years ago. Through the years, we helped Filipinos learn about money, provided access to hundreds of financial products, and helped many save money through discounts and rebates.
Here are eleven reasons to be among the more than one hundred thousand (100,000+) IMG members worldwide.
1. Financial education workshop
IMG has been giving free financial seminars for many years.
IMG recently launched its Global Campaign for Financial Literacy, and the target is one million financially literate families by 2020.There are now five new two-hour workshops on (1) increasing cash flow and debt management; (2) building a solid financial foundation and getting proper protection; (3) asset accumulation and growth; (4) asset and wealth preservation, and retirement planning; and (5) entrepreneurship.
IMG members get a FREE workbook to use in the workshops.
2. Free financial check-up
When you have questions/concerns about your health, you get a medical check-up. When you have car problems, you go get a car check-up.And if you have questions about your wealth and finances?
IMG members get FREE financial check-up from their trainers and mentors. Members sit beside their trainers to prepare personal financial needs analysis and create personal financial plan/blueprint.
1. Financial Workshops. 2. Financial Checkup 3. Asset Preservation Services. 4. Access and discounts to car, home and other non-life insurance. 5. Discount on real estate from SMDC, Ayala Land,DMCI and Vista Land.
3. Access to asset preservation services
We all strive to accumulate assets in our lifetime to pass to our family and next generation. And when God calls us home (unfortunately, sometimes a little sooner than expected), everybody tells our family they are sorry for the loss, but the government will first freeze your assets until your heirs pay up to 20% of the estate value in taxes.
Asset preservation is about an orderly transition of your assets to your heirs, according to your plans and wishes, and possibly about paying less taxes.IMG members have access to tools and services to setup corporations for asset preservation or other purposes through its corporate services partner company.
4. Discount on car, home, property, and other non-life insurance products
Do you need insurance for your home? Car? Equipment? Many people need insurance for many reasons, and sometimes it is a pain to get hold of the proper insurance agent, and pay sometimes expensive premiums.IMG members have access to a multitude of non-life insurance products from respected providers such as MAPFRE Insurance, QBE Insurance, Malayan Insurance, UCPB Gen, Prudential Guarantee, and many more.
IMG members also get discounts in the form of rebates on their own insurance requirements.If you own a business with non-life insurance requirements, the discounts on insurance alone is reason enough to be a member!
5. Discount from real estate companies
Many Filipinos eventually buy real estate, maybe a house and lot, or a condo, through a middleman such as a real estate agent or broker.IMG members buy directly from real estate giants like SM Development Company (SMDC), Ayala Land (ALI), Vistaland (VLL), and DMCI Homes, effectively bypassing the middlemen.
IMG members usually get another 2 to 3% discount on real estate purchases.On a P3M property, that is about 2% x P3,000,000 or P60,000.
Another reason to be an IMG member!
6. Access to affordable life insurance products and services
IMG members can enroll in its IMG group yearly renewable term plan with Philam Life, the biggest life insurance company in the Philippines. This plan is the most inexpensive in the market. For members below 36 years old, it costs about P3,600 ANNUAL premium to get a P1,000,000 life insurance coverage, with riders for accidental death, dismemberment and disablement (ADDD), including a P500,000 terminal illness benefit (TIB). That means a P1,000,000 coverage for as little as P10 a day.This is another benefit available to IMG members (with additional requirements).<
7. Access to short-term and long-term healthcare products and services
Most Philippine HMOs offer short term health care products to big companies for the benefit of their employees. This provides excellent healthcare to the generally young and healthy corporate employees while they are employed.Long term healthcare is like “pre-paid” healthcare.
Individuals pay for healthcare while they are relatively young and healthy and productive, planning to use the healthcare when they are old, sickly, unemployed or retired.Kaiser International Healthgroup Inc, a duly-accredited HMO in the Philippines (I think the third biggest HMO) registered as a Healthcare Provider and Accredited Broker for Other Health Care Companies, offers both short-term and long-term healthcare products, numerous corporate, schoool and government accounts ( House of Representatives, Court of Appeals, Public Attorney’s Office, Department of Agrarian Reform, Technological University of the Philippines, Honda Motor World, Makati Finance Corporation, Royal Oaks International School, Seminario de San Agustin, etc).
IMG members have access to innovative healthcare products from Kaiser International, Inc, including long term healthcare with investment component, and senior healthcare for age 61 – 100.
8. Enjoy zero load benefits to various mutual funds
Mutual funds are among the least understood secrets of the wealthy, mainly because mutual fund companies do not advertise or do much marketing. Yet, mutual funds are among the safest and easiest way to steadily grow your money.
The normal way to invest in these companies is to do your own research, choose, then go to each mutual fund company office, and pay up to 3.5% sales load (or commission) for those who handled the transaction.
IMG members can go to free mutual fund training and briefing sessions every month and discuss concerns with certified investment solicitors. Members consult other members, investment solicitors, even respected leaders in the mutual fund industry such as Rex Mendoza, found chairman of Rampver Financials to decide on which mutual funds to invest in.
Members can open mutual fund accounts for any of the 40+ mutual funds from Soldivo Funds, PhilEquity Management Inc (PEMO), PhilAm Asset management Inc(PAMI), First Metro Asset Management (FAMI), SunLife Financials, and ATRAM, from the IMG Financial Center in Makati, Cebu and Davao.AND the best part is….
IMG members enjoy ZERO load benefits when investing in any of these funds.
If you invest P100,000 directly in mutual fund through traditional channels, you may pay up to P3,500 in sales loads, effectively investing only P96,500.
If you invest P100,000 as an IMG members, through IMG, there is zero load and you invest the entire P100,000.
9. Business ownership program opportunity in the financial industry.
IMG members who want to increase their cashflow can earn extra income by helping other people save and invest, while keeping their job or business.Access to all of IMG’s partner companies is an optional business opportunity for members who could use it to build a career or big business in the financial industry.
6. Access to Life Insurance products. 7. Access to Healthcare products and services. 8. Access to mutual funds at ZERO load. Exclusive to IMG members. 9. Business Ownership program. 10. Opportunity to travel the world thru IMG business program.
10. Opportunities to travel the world for free through the IMG business program
IMG members who do the IMG business program and meet performance targets get subsidies to attend and enjoy the IMG local and international conventions, and free packages for international cruises.
11. Community of Savers and Investors
Enrolling in IMG means joining a community of savers and investors, enabling members to consult mentors, share experience and compare notes with other community members with similar values.
In IMG, you become friends with awesome people who will selflessly guide and encourage you to practice financial discipline in your journey to financial freedom.Enrolling in IMG means joining a community of savers and investors, enabling members to consult mentors.
If you want to lean more about IMG, you can start by attending our free seminar.
Fill out the form below to reserve your spot. Register early, there are limited slots available!
IMPORTANT:
If there is no form above, please refresh this page
A few minutes after you submit your registration, you will receive, in the email address you provided, a confirmation email asking you if you submitted the information to this form. This is to ensure that you (and not just someone who used your email address) knowingly registered your name.
YOU MUST CLICK on the confirmation link to complete your registration.
After you have confirmed, we will send you E-Ticket mail. If you do not receive the confirmation mail, or e-ticket, please check your spam mail in case it got over-enthusiastic and discarded our mails.
Usual Schedules in Makati
Every (Tuesday) at 9:30am and 2:00pm and 7:00pm
Every (Thursday) at 9:30am and 2:00pm and 7:00pm
Every (Saturday) at 9:30am and 2:00pm and 7:00pm
Venue: World Centre Bldg
Gil Puyat Ave (formerly Buendia)
Makati (in front of Mapua)
Note from the author: when first written, minimum pension was ₱1,200. With an across-the-board increase of ₱1,000 in 2017, all pension amounts were increased accordingly.
Imagine retiring, and getting a pension of ₱2,200 per month.
If you read the newspapers, you probably remember President P’Noy was in the headlines in early 2016, for vetoing a proposed law raising the pension of SSS retirees by ₱2,000 per month. He said doing so will bankrupt the SSS fund.
It was such a distressing news. SSS could not afford to raise the pension by ₱2,000?
President Duterte thought otherwise. Under his administration, the SSS implemented a ₱1,000 per month across the board increase in early 2017 for all SSS pensioners and is set to implement a second round in 2019. But this will reportedly bankrupt SSS by 2026 only eight years from now!
Maximum Contribution for 30 years
I computed how much I’d get as pension when I turn 60. I was a senior manager for more than 30 years, and hence paid the maximum SSS contribution for 30 years. Therefore, I expect the highest possible pension for 30 years contribution.
And the number I got was….. (drum roll please) ….. ₱ 10,900 per month!
What?
How could a highly paid employee, paying maximum contribution for 30 years, survive on ₱10,900 per month when he retires?
But that is NOT the sad part. ₱10,900 is for those who paid maximum. How about those who paid less?
What if you paid for only 10 years?
There are Filipinos who paid less, and contributed for 10 only years.
The minimum pension after paying 10 years is ₱2,200 per month!
Can you imagine living with a pension equivalent to ₱70 PER DAY?
The maximum pension after paying 10 years is ₱7,400 per month.
What if you paid for more years?
If you contributed:
for 10 years, your pension will be ₱2,200 – P7,400 per month.
for 15 years, your pension will be ₱2,200 – P7,400 per month. (same as 10 years!)
for 20 years, your pension will be ₱3,400 – P7,700 per month.
for 30 years. your pension will be ₱3,400 – P10,900 per month.
for 40 years, your pension will be ₱3,400 – P14,100 per month.
for 45 years, your pension will be ₱3,400 – P15,700 per month.
After contributing the maximum SSS premiums for 20 years, you will be eligible to a maximum pension of ₱7,700
We must build our own retirement fund!
Obviously, we can’t depend on the government or the SSS to provide us enough during our retirement. We must take control of our future, and build our own retirement fund. Otherwise, we might be among those who will retire with a ₱2,200 pension, or if you contribute the maximum premium for 30 years, ₱10,900 per month.
Do we want to prepare for your retirement?
We must take control of our future, so we will not retire dirt-poor.
Would you like to attend our free 1-hour “Building Your Future – Controlling Your Money” seminar in various locations, to get financial education?
p.s. #2
Get a free eBook “The Secret to Saving and Building Your Future.” Click here to download it.
p.s. # 3
My wife Mary Ann and I conduct the “Building Your Future” financial seminars on Mondays at 2pm and 6pm in Quezon City. Click here to register for our FREE seminar.
I remember 39 years ago, when I first enrolled at the University of the Philippines in Diliman, Quezon City. I was a full scholar and didn’t have to pay for tuition fee, but we were still assessed. And our typical assessment was about P300 tuition and fees for the entire semester. Not P300 per unit, it was about P300 for the entire semester.
The Oblation at the University of the Phillipines in Diliman, Quezon City. By Rinangel Buenavente, Crispin Sta. Ines [Public domain or Public domain], via Wikimedia Commons
Last January, my youngest son enrolled in the same campus at UP Diliman, and his tuition and other fees totalled P30,000. And I think UP has not increased tuition fees for at least 5 years.
Let us do the math.
* P300 x 10 = P3,000
* P300 x 100 = P30,000
In my lifetime, in 39 years, the tuition fee in my school increased 100 times, or about a compounded rate of 12.5% every year.
How much would YOU pay for YOUR children’s college education?
Most of you will be sending kids to college in less than 15 years, so maybe you will not pay 100x, but perhaps 8x to 10x what YOU paid when you were in college?
I talked to a seminar attendee a few weeks ago, and asked him how much he paid in college. He said, P15,000 tuition fee per semester.
Let us do the math again:
in 15 years, maybe tuition will increase only eight times.
P15,000 x 8 = P90,000 in one semester
P90,000 x 8 semesters = P720,000
And that is just for tuition. How about other school fees, transportation, allowance?
Let us say you spend another P280,000, and the cost of sending one child to college is P1,000,000.
If the basis is P30,000 (like what I paid in UP Diliman), the cost of sending one child to college in 15 years, will probably be P2,000,000
If you have two children, that is P2,000,000 to P4,000,000 you’ll be spending in 15 years. Are you preparing to send your children to college?
Are you saving and investing so you’ll have an extra two to four million pesos in 15 years? Are you saving enough, so you’ll have some money left over for your retirement?
Would you like learn ways to increase your cashflow, save and invest, so that you can send your children to college?
IMG launched a new seminar “Building Your Future” in January 2016 to help Filipino families achieve financial freedom through financial education, saving and investing. Our goal is to have 1 million financially educated families by 2020 ( hashtag #1M2020 )
Would you like to attend our free 1-hour “Building Your Future – Controlling Your Money” seminar in various locations, to get financial education?
Have you ever wondered why you keep on earning money but it just keeps on disappearing into thin air? Maybe it is going down the drain?
There are many reasons why, and one reason is
SOMEONE IS STEALING YOUR MONEY!
Actually, there’s more than one thief! Let me name two thieves.
Suppose on January 1, 2016 you deposited P100,000 in a savings account in a leading Philippine commercial bank.
Most commercial banks in the Philippines give you 0.25% interest per annum. Let me simplify this example a little and assume annual interest.
This means that on Dec 31, 2016, after one year, the bank will give you about 0.2% interest on your P100,000, or the magnificent amount of P250!
Beginning balance on January 1, 2016 P 100,000.00
Interest credited on December 31, 2016 250.00
So after one long year, the bank decided to give you P250.00 interest on your P100,000. But wait!
Let me introduce you to one thief.
TAXES are stealing your money.
The Bureau of Internal Revenue will collect 25% withholding tax on that interest, or P50.00. So after one year your bank statement will look like this:
Beginning balance on January 1, 2016 P 100,000.00
Interest credited on December 31, 2016 250.00
Withholding tax ( 50.00)
Balance as of December 31, 2016 P100,200.00
On January 1, 2017, exactly one year later, your bank will show a very slightly higher total: P100,200. Your P100,000 would have earned a disappointingly low interest of P200.
Let me digress a little.
I remember when I was young and I bought burgers from a local burger chain X. Their burger was pretty big and satisfying. Eat one and you’d be full!
Inflation is the gradual reduction in buying power over time.
Last week I bought two of the same burgers for lunch and after eating two (smaller) burgers, I was still hungry.
There was this other burger chain Y which claims their burgers are exactly the same size as when the burgers were introduced many years ago.
Inflation: Price increases over time
What happened? My money was buying either smaller burgers. or the same burgers at higher prices.
Gentlemen, the name of the second silent thief is INFLATION.
Inflation is slowly but surely stealing the value of your money through the gradual reduction of buying power of your money.
In January 1, 2016, your P100,000 was worth P100,000, and maybe I could buy 1,000 burgers for P100,000 from X, and another 1,000 burgers from Y.
In January 1, 2017, one year later, the same P100,000 had a higher number P100,200, but I could probably buy 1,000 SMALLER burgers from X, or FEWER burgers from Y. The P100,000 had a higher number, but the buying power was less. Suppose inflation was 5%. Then inflation caused the VALUE to go down by 5% x P100,000 = P5,000.
Beginning balance on January 1, 2016 P 100,000.00
Interest credited on December 31, 2016 250.00
Withholding tax ( 50.00)
Balance as of December 31, 2016 P100,200.00
Less 5% value lost due to inflation (5,000.00)
Value as of January 1, 2017 P 95,200.00
You LOST P4,800 because you kept your money in a savings account in the bank!
Now I am not saying you should not keep your money in the bank. The banks are great for depositing and withdrawing money and, processing checks, payments, and daily transactions. They are great for money you use on a day-to-day basis.
BUT, if you want to grow your long term savings, the money you are saving for your future retirement many years from now, DO NOT KEEP THEM IN YOUR SAVINGS ACCOUNT!
Put your money in high yield investment vehicles to grow your money.
This is why we need to learn about money.
This is why we must look for investments that can beat the effects of taxes and inflation.
Understanding money allows us how to fight wealth enemies such as the silent thieves: taxes and inflation.
Financial education enables us to take control of our money.
Financial literacy is about Building Your Future.
Learn about money by reading, researching and attending financial seminars.
Almost all attendees in our Building Your Future – Taking Control of Your Money Seminar (March 7, 6pm, and March 21, 6pm sessions) at IMG Quezon City Training Center are Entrepreneurship majors from San Beda College Manila!
Coach Bobet Prudente of IMG conducted a two part session seminar where he taught the students about money concepts including how to turn a savings of P33/day into millions of pesos.
We invite all to attend our FREE Building Your Future seminar in Makati, Quezon City, Calamba, Dasmarinas(Cavite) and other locations.
San Beda College Students attended the Building Your Future – Taking control of Your Money Seminar in Quezon City. Click on the picture to see (and share) the album
