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My wife tells me that women would like to feel financially secure. They want to have money that they can spend as they wish without having to explain to their husbands. The modern woman wants her husband to support the family but wants to earn her own money, too.

Wealth is usually equated to having lots of money. In reality, having lots of money is no assurance that one is automatically wealthy and can therefore afford to stop working for money. Wealth and money mean nothing unless these are matched with personal goals, time and expenses.

Are you wealthy if you had P1 Million? P2 Million? P10 Million? or P100 Million? The answer lies in your expense profile. If your living expenses are very high because of your lifestyle, or perhaps because you have so much debt, then maybe even if you had PhP 100 Million, you would still be financially short.

If you had financial assets that can support your lifestyle for say ten years, would you be wealthy? It depends on how much time you have left in this world. If you are expecting to have only ten years to go, then you are wealthy enough. But if you are still expecting to live another twenty years, then you are not wealthy enough. In this case, you still have to grow your financial assets or lower your lifestyle to match your financial capability.

FRANCISCO J. COLAYCO is an entrepreneur, a venture developer and financial advisor. He has over 40 years of experience that covers service contracting in the Middle East, manufacturing, trading construction, shipbuilding, management consulting, banking and financial services. He is the Chairman of the Colayco Foundation for Education (CFE) and the author of bestsellers: Wealth Within Your Reach (2004 National Book Award for Business and Economics), Making Your Money Work (Nominated in 2005, National Book Awards Business and Economics), Pera Palaguin Workbook and Money for Kids. The books are available at National Bookstore, most other bookstores or directly from CFE. He joins our website blog to share with ordinary income earners, Overseas Filipino Workers (OFW) and students the simple principles to "Save what you earn and grow what you save." CFE conducts talks, seminars, and workshops. “Managing Personal Finances For The Future” a seminar-workshop developed in partnership with the Ateneo Graduate School of Business, Center for Continuing Education. June 21, 2008, Saturday, 9:00 am to 6:00 pm. For registration and inquiries, please call Marleth Calanog at 830-2050. CFE is also the producer of the PISObilities DVD series, available at your favorite audio-video shops in May 2008. Learn more about the advocacy at www.colaycofoundation.com, email info@colaycofoundation.com, via SMS +63917-8537333 or through (632)637-3741.