Everything is affected by inflation even final expenses like a casket, flowers, interment, memorial lot just to name a few. I can still remember spending a little less than Php 150k when my father died 3 years ago. Considering that we already have a memorial lot in a private cemetery near our home. So I was thinking if just in case I will be called too soon I also want to get a decent wake. [continue reading…]
In a nutshell, an emergency fund is the amount of money you need to cover unforeseen personal expenses. You might be confused but this is a different fund aside from your usual savings, investments, or even from your insurance plans. Just like the purpose of your savings may be for purchasing a new house, your investments to speed up your wealth accumulation, and your insurance to protect your family from going hungry when you are taken out of the picture. [continue reading…]
The Insurance Commission (IC) made a statement on its press release last November 8, 2018, regarding the ranking of life insurance companies in the Philippines. This is based on the respective reported premium income, asset, net worth, net income, and new business income equivalent. [continue reading…]
Are you familiar with the rule of 72? I guess some of you might know it well because this isn’t something new especially to those who have been reading investment books and articles online. The rule is just an approximation from the basic formula of compounding interest. To save my brain cells from dying, I will just talk about how it can be useful to you excluding the derivation. [continue reading…]
After 3 months of battle, the case I have been fighting for is finally approved. Some of our clients may think that their life insurance application is approved outright after filling out the documents and paying their premium. Well, for some maybe, if they happen to be healthy, no hereditary health concerns, etc. [continue reading…]
SSS retirement benefit or pension as they normally call it is one of the few benefits employees are entitled to receive when they retire. So before you empty your savings going all YOLO (You Only Live Once) and FOMO (Fear Of Missing Out) craze you may want to consider how much you’ll be getting from SSS by the time you’ll retire. Are you ready to know how small much it will be? [continue reading…]
In pursuant to the Social Security Act of 2018, a new SSS contribution table will be used starting in April 2019 onwards. The law will effectively increase the contribution rate from 11% to 12% and will continue to increase by 1% every other year. The hike in contribution rate will continue until it reaches 15% by the year 2025.
Do you know what? I want you to be insured. That’s true and this is not because I’m affiliated with an insurance company. I’ll be honest, it opened the doors for me to deeply appreciate the value of life insurance. The sole reason is that I came from a household that the breadwinner, my father nor mother, is not insured. I personally experienced all the emotional pain and financial hardship from taking the role that I am not ready yet. And I believe that no one has to experience the same if only breadwinners like you can see its value. [continue reading…]
I started saving money in a bank, just like you, because it’s a good place to keep it safe. But then I realized that there’s something wrong. Imagine for every hundred thousand that I have in my savings account it only earned Php 250. Oh, did I say that withholding tax will still be deducted from it? So I have decided to just complete my emergency fund and after that, I will invest the rest. If you are reading this then I guess we are on the same page. [continue reading…]
Saving money is a good start in achieving your financial goals in life but investing can speed it up when done right. Imagine your financial goal like a destination you would want to go like Boracay for example. Yes, taking a boat, i.e. saving, can take you there but taking the plane, i.e. investing, will take you there faster. That’s basically what investing is, bringing you to your destination faster and efficiently. [continue reading…]
DISCLAIMER: This website reflects only the views and opinions of the author, Federico Suan, Jr., and is not part of any official communication tools of any life insurance and investment company. The author has no responsibility against the comments posted by visitors. Necessary actions will be done accordingly as the website has no intention to malign its readers from factual information. Constant efforts is done by the author to bring precision in every post.