I am turning 24 what's a good investment for my status?

[snix]

I'm recently having a quarter life crisis especially when i thought of how I still don't have any investment at this age. Idedetail ko na lahat para may masuggest kayo sa status ko

I am turning 24 this August. I earn a measly 14k a month. I pay 3k a month for my tmj so I am left with 11k. Transpo and food allowance pa and cotribution sa bahay. I am left with 2k. Minsan nakakapagsave madalas hindi so I cannot say that I have an emergency fund. Things are kind of hard din sa bahay right now so I have to give up some of my savings to give to my parents. No increase din dito sa office kasi home office

Right now, I am trying to look for another job (since last year pa pero wala ako makitang okay na offer) and some sidelines na rin. Swerte na kung meron pero madalas wala din.

Naisip ko if this cotinues, I might be left with nothing when I get to retirement age. Sure there's SSS. Stil, I need to have an investment.

Can you guys suggest a good investment for me, yung hindi naman ganun kabigat para sakin. And also if anyone can recommend na rin their agents if magsuggest ng life insurance thanks a lot in advance, hope to read your replies

[Ma.Jewel_1987]

Sis magandang gawin nyan once you receive your pay, isave mu agad lets say 1k lang or 2k, then kung ano man ang matitira pilitin mung pagkasyahin, kasi kung uunahin mu ang expenses bago savings malabo talagang may matira. Now once your savings reach 5k mag open ka ng col account para mkapag invest ka sa stockmarket. Then monthly dun mu iadd yung 1k na savings mu.

[artificialstar]

^^ hi sis, i agree with jewel. i-save mo agad yung money pagka receive mo sa income. i made some calculations that if you continue to invest yung 2k every month for the next 35 yrs, tapos ilalagay mo sa mutual fund that gains 12% per annum, at age 60 mo sis, meron ka nang 10-11M. so really it's not how much you earn, it's what you do with your money and how you budget it.

[snix]

Hi mga sis thanks sa suggestion.. Actually plan ko is mutual funds. Pero pinagaaralan ko pa.

Gusto ko nga ein sana insurance pero parang hindi pa kaya sa ngayon sayang nga eh kasi pag tumanda pako mas mahal na yung ihuhulog ko if ever maginsurance ako

[airish_2]

hindi pa huli sis ako nga ngayon pa lang magstart mag invest sa mutual fund.

[honakoniney]

Ako din, 21 yo. And thinking kung san ako pwexeng magsave or invest. Im choosing between stock market and mutual fund. TBH, di ko sila nagegets pa masyado. Haha. Will back read to the respective threads para mas matuto.

[ikaela]

Frankly, I would use that extra money for self-improvement rather than investment at this point. Kailangan mo muna palakihin yung income mo. You also need to build your foundation first (emergency fund + heath insurance + life insurance) before you can think of investing. And as you get older, you're going to begin thinking of moving out, building a life/family of your own and possibly marrying, and you need to save up for that. Hindi kakayanin ng 14k/mo.

Usual ideas for self-improvement: seminars, workshops, small business, sidelines.

Out-of-the-box ideas (that I prefer): working on your passions (baking, arts/crafts, writing ba?), traveling so that you meet more people/expand your network, and basically expanding your horizons. Opportunities and money usually come after this.

[Chelle017]

HI! I suggest you attend financial planning seminars fiirst before thinking of what to do with your money.  Have a clear and solid financial structure first.  Sabi nga, it all starts with a plan because without it, you might just enter into something not leading to your goal. There are a lot of financial products but then again, which is which and which one should be your priority now. 

[Cheesecak3]

Use your extra for small business para meron kang regular cash flow. Aim to have extra income bukod sa sweldo mo at kung ano man ang kikitain mo don sa extra income mo, palaguin mo yon. Pwede mong i-invest ulit o gawin emergency fund.

[mommyysa]

I suggest you get a life insurance na investment link. May 2.5k pwede na monthly for 5 years  to pay lang pero lifetime na and cover kana until age 100. At the same time its an investment. Ikaw decide if where to invest and if your a conservative or aggressive  investor.

[ann08]

All sisess are right and I second sis Ikaela's point. Invest first in knowledge, attend seminars and any of what makes you think help in the future then everything will follow.

When you're experiencing quarter life crisis, myself, I want to try different things like having gadgets, expand rental property, study and travel.. so sometimes money is not enough.. that's why I did not get an insurance yet but continue to invest in any amount and yes mutual fund is good.

[Lianne@TheWiseLiving]

Sabi nga nila sis, the investment in knowledge will always pay the best interest.

Wag ka munang padalos-dalos. Attend personal improvement seminars or financial planning talks. Some of these talks can be free. If not, you can also buy self development books, or mayroon din namang e-books that you can read online.

As you build your knowledge, work on your financial foundation first. Emergency fund muna, plus health insurance, plus life insurance. If you invest agad kasi, you may never know what'll happen. What if biglang may nangyari and kinailangan mo ang money - e nagkataon hindi pa tumutubo ang investment mo, right? Sayang naman if wiwithdrawhin mo kasi wala kang emergency fund in the first place.

Also, upon receiving your income, put a portion of it in savings first. I-save mo muna, before you pay your bills.

[iwannabeasupermodel]

Wow this is interesting but sadly not applicable to me kasi i'm still in me school and have literally zero income.

[coffee_art01]

Sis I agree with them to invest in mutual funds. Pero don't put all your savings there. Kasi may risk din yun. May little chance din na malulugi ka. Dapat mag save ka din ng money sa bank account mo. That's for emergency use. For example kung 2,000 yung isasave mo per month

1,500 / month invest it in MF
500 / month personal savings mo sa bank

[lusciousfoxy12]

i agree with sister ikaela. invest in your self-improvement. enroll yourself to seminars, programs that will enhance your ability and talent. expand your network by joining communities. find your passion and capitalize on it. 

[be_Jenuine]

Yes I agree din. Sobrang hirap magipon sa ganitong age, kung saan gusto nating mag-explore and try lots of things. Though saving early is adviced, hirap ding gawin so dapat invest in yourself muna. E kung pag  tanda mo may ipon ka nga tapos di mo na magamit yun dahil mahina ka na.

[Ma.Jewel_1987]

^ Well actually mas mapapakinabangan mo yung ipon mu once matanda kana, kasi most likely hindi ka na makakapag trabaho nun at madami na din medical bills pero dapat balance pa din enjoy2x din pag may time 

Mga sisses ano ba ang maganda attendan na event/seminars to improve one's self na macoconsider nyo as investment?

[airish_2]

^meron si Randell Tiongson No Nonesense Retirement Seminar this month.

[rikki21]

Joining this thread.  before i earned 14k a month then but with serious saving (transpo, food, gala or outing, clothes), i was able to open a COL account. I started my part time job, was able to open VUL account naman. Opened up COL account 3 years ago pero sa first 6months lang ako active, then last month opened up mutual fund with minimum amount. Im pushing myself to save more, invest more. to be active ulit sa stock market and to add more sa mutual fund. and another thing,  i resigned and went for the job that pays me more.

[airish_2]

ako rin i resigned and mas maganda ang compensation balak ko pa magdagdag sa mga investment.