Comments on: Personal Financial Plan

By: Tyger

Tyger — Thu, 02 Sep 2010 03:23:35 +0000

Tukayo, it’s good to know someone who has the passion to educate himself on the way to financial freedom. I’m confident you’re going to make it. I myself have embarked on this journey though not with the same focus as you have.
It feels great to make the right investments just because we found time to educate ourselves and persevere. I bought an equity fund worth P40K in 2007 rather than put it in time deposit. I actually forgot about it till recently when i needed to liquidate some assets to pay off some dues. It was already worth P57K. I wouldn’t have earned the same if i had left it in the bank. Now, i’ve started to invest again. And i continue to learn along the way.

By: Tyrone

Tyrone — Thu, 19 Nov 2009 02:50:26 +0000

Good point on that Zen. We must then have assets providing us passive income after we retired for us to live comfortably for a long time.

Asset accumulation is the key in building a huge portfolio of passive income earners and the younger we start, the higher the possibility that we can achieve it.

By: Sonn

Sonn — Thu, 19 Nov 2009 02:26:30 +0000

Yup, that’s the case with my Equity mutual fund too. But my Balanced mutual fund has already recovered. I feel kinda left out that I didn’t invest in them when I had the cash.

By: Zen Foo

Zen Foo — Thu, 19 Nov 2009 02:04:20 +0000

Just want to add a few point on top of the question of
“Where do you want to be?”. When answering this question, we should ask ourselves further. If we plan to be secure, then how long we can remain secured and can we remain secure as long as we are retired? If we plan to be comfortable, then how long we can remain comfortable and can we remain comfortable as long as we are retired? If we can’t remain comfortable for long after retired, then we are actually planning to get poor but not comfortable

By: Tyrone

Tyrone — Wed, 18 Nov 2009 22:56:51 +0000

I just visited the site just now and based on their yields, I have seen equity funds of both BDO and Metrobank to have huge YTD returns of at least 60%. WoW!

I still have some investments in UITF. Unfortunately, it’s still at a loss right now since I invested when the stock market is at its peak before.

By: SoNn

SoNn — Wed, 18 Nov 2009 17:17:50 +0000

Dude, have you seen the UITF/Mutual Funds 3Q09 performance reports lately? Compared to how I did in the stock market, parang mas okay na ata mag-auto pilot via UITF/MF investing. what do you think?

By: Gabe | freebloghelp.com

Gabe | freebloghelp.com — Wed, 18 Nov 2009 14:53:22 +0000

So true. Most people don’t really have a financial plan. It’s a pity how many people have no idea where the money is going to come in their twilight years.

By: kenyantykoon

kenyantykoon — Wed, 18 Nov 2009 08:58:40 +0000

i first read this in rich dad poor dad and it actually made a lot of sense. It has been reverberated in other financial books like the intelligent investor by benjamin graham who says that you must not invest a coin until a plan like this and others like an asset allocation plan are well set up

By: Tyrone

Tyrone — Wed, 18 Nov 2009 03:55:29 +0000

I remember the saying: “If you fail to plan, you plan to fail.” That saying speaks all by itself.

By: Tyrone

Tyrone — Wed, 18 Nov 2009 03:50:50 +0000

I agree with you. I remember Kiyosaki saying: ‘don’t listen to brokers because they are “broker” than you’. Instead, you should educate yourself and increase your financial literacy education.

By: franchise businessman

franchise businessman — Wed, 18 Nov 2009 01:53:50 +0000

Nice to think of your financial plan as a jigsaw.

By: dlysen

dlysen — Tue, 17 Nov 2009 23:08:02 +0000

If you want to be financially free, you have to know how to read numbers and be able to understand it. A solid example is that you can multiple yourselves to others that you can do the work easily. If you operate 100 vs. 10 taxis you know that you make most money on 100 taxis and that is 100 times you multiply yourself and it is one of how to read numbers. It is somewhat the Law of Leverage.

By: Ms. Freeman

Ms. Freeman — Tue, 17 Nov 2009 20:14:35 +0000

I want to retire now! But that is not currently in the plan, I have some retirement products but quite frankly I’m not sure I have adequate planning done. So I definitely need to get with an adviser and figure things out. I’m not getting any younger.

By: Greg Moreno

Greg Moreno — Tue, 17 Nov 2009 19:09:25 +0000

I can’t count how many “financial planners” I’ve met who told the importance of planning when all they know is sell insurance Funny thing is many of these financial planners are in deep trouble – credit card debts, tight cash flow, and mostly living beyond what they earn.

Btw, thanks for dropping by my blog.

By: Financial Samurai

Financial Samurai — Tue, 17 Nov 2009 13:34:11 +0000

I like the picture/jigsaw analogy.

With the right process, we will ALL be rich someday.