How much is your net worth?

[billiejean]

Hi sisses! I read somewhere that you can include your insurance policies (life, etc)  sa net worth computation. But how do you compute it? Based ba sya sa total premiums na binayaran mo or based sa sum assured na makukuha mo?

[showermist]

^ i don't think so sis.  unless that insurance builds cash value.  generally kasi, makukuha mo lang yung money kung patay ka na. at kung patay na, kung sino ang beneficiary nung money e di sya na may asset.

generally(again), the reason we have insurances e dahil sa mga taong nakadepende sa atin at sa mga pag aari nating may balanse pa. gaya ng bahay. o ng kotse. o kung ano pa man yan.  'we are trying to insure and ensure our properties na hindi kukunin ulet ng bank (o kung anumang institution na nagpautang sa atin) yung mga properties natin na hindi pa fully paid. so by the time na may mangyari nga sa atin, covered mga properties. at covered ang mga mahal natin sa buhay.

ngek, maliwanag ba pagkakaexplain ko? hindi ako nagbibenta ng insurance hehe. 

i hope some could really give light to this...

[hazedhaze]

^Naku sis, time to start na talaga. At least, this is an awakening for you diba. Minsan naman talaga, dadating yung point na magigising ka, in your late 20s, tas maiisip mo, shucks! wala akong naipon, san napunta pera ko all this time??? Ganun. Ang dami kong ganyang officemates. Pero at least diba, we are aware and conscious of it. I suggest you attend financial talks para lalo kang mainspire to really start on the road to this.

[showermist]

pajoin!

when i saw this thread, i said to myself babasahin ko 'to from page 1 up to the last page.. very interesting and it really made me think.

i'm 27, getting married this year and a semi-breadwinner. "semi-breadwinner" kasi my dad works abroad but the money he sends is not always enough to pay everyhting (ever since my lola was diagnosed with a brain tumor) and since i am the eldest at ako pa lang ang may work sa aming magkakapatid, most of my money napupunta sa bills at sa tuition ng youngest brother ko. i do have 5figure savings at wala akong kahit anong property and i know that for my age, sobrang liit lang nun. 

i suggest building your 'emergency fund' muna and pay off all your credit card.
but way to go! baby steps will lead you to a bigger destination

[JINJIN:*]

1.) 462,200-29000 (old loan na hindi pa nababayaran) - 35000 (cc debt ko now) = 398,200php
2.) 32 years old

no bad for me coz Im single.
sana mas malaki pa yan kung hindi nilustay ng ex ko..
pero ok lang Im not gonna cry over spilled milk.
Ipon pa ko, I want to reach my 1st million soon!!!

[pompz]

@Sis JinJin naku okay lang yana tleast may natira ka pa for yourself imagine kung as in wala ng tinira si Ex.

ako walang networth, sakto lang ang sahod sa gastusin sa bahay , minsan nga sobra pa ang bills kesa sa sahod, kakaingit din yung mga singles na may ipon compared keep it up sisses.

[hazedhaze]

san merong financial talks sis?

Sis, meron sa company namin mga wealth management forum but I'm not sure kung sa schedule. PM me nalang if you're interested.

[laylanik]

sa aming mag-asawa:   1.27million
we're both 32

kaka-compute ko lang kahapon:
Cash in Bank 1 >>> Php234,249.79
Cash in Bank 2 >>> Php64,949.40
Cash in Bank 3 >>> Php28,887.10
Cash in Bank 4 >>> Php28,603.66
Investment in Stocks (@ market) >>> PHP388,150.70
Mutual Funds (@market) >>> PPH73,667.36
CSV- Life Insurance - Mine >>> Php52,180
CSV -Life Insurance - Mine >>> Php107,000
CSV - Life Insurance - Hubby's >>> Php14,000
CSV - Educational Insurance - Daughter's >>> Php 25,200
Total Current Assets >>> Php1,016,687.71
Less: Credit Card O/S Balances >>> Php34,701.56
Current Assets Net of Current Liabilities >>> Php981,986.15
Add: Fixed Assets
Car (cost / life 4yrs x rem life 2 yrs) >>> Php40,000
Residential Lot (at market) >>> Php250,000
Net Worth >>> Php1,271,986.15

[siomai]

Hi sisses! I read somewhere that you can include your insurance policies (life, etc)  sa net worth computation. But how do you compute it? Based ba sya sa total premiums na binayaran mo or based sa sum assured na makukuha mo?

when i compute for my net worth, i didnt include insurance.
iba iba kasi insurance ko eh. pero sabagay maliit lang kasi insurance ko - 600K na life insurance and 3.5M na accident insurance.

Nakapagpundar kami ng total of 1.2M na worth (future worth) na educational plan for our kids (twins) for college. When I compute for it, napakababa nya lang pala. 600K per child = 150,000 per year which translates to 75K per semester. Eh sa tuition ngayon, talagang hindi kasya.   

[helencons]

^^^ in my company's case, they require us to input premiums paid from our insurance as part of our assets such that they are factored in the computation of my networth.

as for educational/endowment plans, what I did was to compute the current tuition fee for let's say Grade 1 students, i assumed that tuition fees run at about P100,000, then I assumed inflation rate at 10% (rather high pero i like it para may cushion pa rin). I just used a ready made inflation rate table from money sense magazine. After that, I computed my son's estimated tuition fees from grade school to college.  The result is my target funding for his education, so now, I'm executing various steps/plans to securely fund his education.  I have an excel file for the expected cash inflow from my plans and another excel file for the target funding so i can easily see if my plans match the future education spending required.

[bratinella08]

Im still single & at my late 20's. Finally, i computed my savings, thanks for this thread, i realized i already reached my financial goal which is to reach a savings of 1million before i turn 30. i didn't include my gadgets & jewelry. i'm so happy coz i really saved a lot without depriving myself to my needs and WANTS. 

Time Deposit (Bank 1) - P     444,391.46
Time Deposit (Bank 2) -       300,000.00
Company Savings       -       158,430.00
Savings Acct (Bank 1) -         48,008.00
Savings Acct (Bank 2) -         78,000.00
Total Savings             = P 1,028,829.46
                                      plus US $200 

[billiejean]

^^Thanks sis helencons. If that's the case, almost half a million na rin pala ang networth ko pag sinama yung insurance premiums na binayaran ko.

Congrats sis bratinella08! I'm in my late 20s, too and hopefully ma-earn ko na rin yung 1M ko in 2 years time.

[bratinella08]

tnx sis billiejean. kala ko nga next year ko pa ma-achieve un. i hope you'll also attain your goal, discipline lang but don't forget to pamper yourself also... 

[pretinnes]

di ko na sinali ang properties, gadgets, etc...

TD 1=                                       P101, 000
TD 2=                                       P170,000
$ savings ($5,340)approximately P234,000
BDO savings                             P33,000
                                     TOTAL: 538,000     
 
   

[andreanatividad]

i'm 29 and a writer. i have a regular job that doesn't pay much; i also do freelance stuff here and there (they're not a lot). but the upside is i still live with my folks so i only have to spend on my stuff. i also tithe 10% of my salary.

cash- 300k
stocks - 350k
bonds - 150k
accts receivable - 350k (my folks owe me money, i don't know if they're still gonna pay me, but i hope)
small business - 180k

so it's more or less 1m.

sa totoo lang, di ako masyadong masipag, lagi lang ako nasa house LOL, but matipid ako. i do not feel too deprived though, matipid lang talaga akong tao. sometimes i just rationalize na di man ako super yaman, at least i'm not physically, mentally and emotionally stressed from working LOL

[aicute12]

grabe! Di ko alam paano niyo naipon lahat yan..

Ako kahit piso walang savings.

Isa lang investment ko, townhouse na every month ko binabayaran. Nakakalungkot.

[noemi86]

I am 90k in debt! 

[sweet_cherry]

sabi sa SALN ko 260thousand

[anachanel]

is it possible to consistently double net worth every year? i'm very far behind my goal of 1m by 30, i have 4 years left and i haven't even reached 150k. =( i started paying attention to saving only recently kasi. now i'm regretting it.

[chicafabulosa]

hmm me and hubby combined above 1M