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

[Mark.Saturno]

I also experienced that dilemma.

I've read Rich Dad Poor Dad book of Robert Kiyosaki when i was 22-23 yrs old and my mind was suddenly opened to reality. (1) SSS is not enough for retirement and (2) your money on the bank will only loose value. (Example, Pop Cola was 1.50 pesos and Tricycle fare was 1 peso 25 years ago, now both of them were almost 10 pesos. In other words ... your "1 year salary " today will be just "1 month expense" after 25 years.

So now im investing in stock market, UITF and Mutual Funds.

Don't rely in SSS.

Many decades ago SSS told my Lola that she will received 2,000 a month when she retires, my Lola thought that it was big bec her monthly salary then was only above 1,000. But NOW how much a 2,000 monthly SSS could go? Just enough for electricity bill. (SSS said that now you will receive almost 10k when you retired around year 2040. If 10k is not enough now then how much more after 26 years).

[empire_maker16]

Hi i'm 24 years old now.. and I can say medyo achieve ko na rin yung target ko for this year.. so i set another goal and target for my 25-26 years old..
anyway, since we're the same age na 24.. I started at the age of 22 sa mutual funds and time deposit and UITF.. but i start saving since i was a kid ( i might say age of 12).. at the age of 23 i start naman sa stock market so medyo malaki na investment ko.. before since bago ako sa stock market like ko ang day trading or short term investment ang bilis ko kumita but then nung nabasa ko ang Rich Dad Poor Dad, napaisip ako na what if i invest on a long term basis just make sure na the company i join is meron ako access sa loob and informations. kaya ngayon kahit tumataas ang market i dont sell.. iniisip ko na lang na wala ako stocks doon.. but i buy stocks from time na alam ko bagsak or kung mas mababa pa sa pinakamababa kong nabili.. ngayon 24 years old na ako meron na ako Life Insurance with investment eto yung naipon ko from my sales commission and interest from stocks, UITF, etc (hindi po siya millions ha, meron naman po nagoffer na below 500k lang). Now, Life insurance pa din with medical insurance rider (eto yung yearly ko bayaran at kinukuha ko to monthly sa sahod ko). I do have 1 real estate land na rin na nabili ko (swertihan lang dahil yung nabilhan ko binenta sa akin yung land dahil need nila pera so mababa ang price) pero wala pa siya sa 400 sqmtr but not bad na rin.

Ako po kasi sa 24 years old ko medyo madami na naipon ko tho madami na rin ako gastos but lahat yun lesson learned na skin dahil ang dami ko din nasayang or sa term nga ng matatanda "waldas" daw ako before hindi nila alam madami din ako ipon pa.. everytime na gumagastos ako i'll make sure mababawi ko yun..

So for suggestion sis, i'll recommend na start na magsave ka the whole year and put it in a money market fund (low risk tho low return but not that super low like Time Deposit) then next you may target balanced-equity fund (medyo moderate to high risk na to but high in return din). And para makaipon ka na rin for your emergency fund unti unti or if kaya pa sa budget maghiwalay ka for emergency fund atleast 3 months salary mo ang katumbas nyan para in case of emergency hindi magagalaw ang mga investment mo and para hindi natutulog lagay mo na rin sa time deposit kahit papaano may interest. Next, if you can have na budget for life insurance or health insurance (PNB has a healthy ka pinoy na program for emergency and hospitalization i think) dahil importante yan. Last, if kayang kaya na ng emotions at budget pwede ka na magventure either Stock Market, Real Estate or Business (either of the three as long as you have passion na pagaralan at ituloy tuloy go mo na... i cant assure you na magiging millionaire ka here but who knows di ba)

Tip: make a budget talaga sa salary mo.. dont stick with being employee hanap ka sideline pero wag ka muna resign kasi active income pa din yan.. hanggang sa makabuo ka budget to avail yung isang bagay na magbibigay ng passive income at kung medyo sipag sipagan tayo hanap tayo na mag cacapital gain sa atin..

[me.cryl]

ako naman turning 25 years old this year. i just started to work with salary last May 2013. alam nio naman sa pinas mga nurses hirap makapasok sa hospital.heheh ngyon im an OFW. my salary is ranging from 20,000 to 25000. for the past one year. halos wala akong naipon. bayad utang, im also the one paying for my youngest sister tuition fee.. parang breadwinner na din. pero this year i'll make sure na may maiipon ako. hindi ako maluho. im so matipid. my plan is to earn at least 100K for one year. before im planning to put it in time deposit. pero noong nagsearch ako about time depost. the interest is toooo low with tax pa. haaaay so ngyon, pinagaaralan ko kung paano maginvest. either BPI or BDO. mga sis, sa tingin nio po saan maganda? i dont have any background kasi sa investment, stocks etc. hehe

[smile22]

joining! ive read Rich Dad by RK when i was in college may book report pa nga, hindi ko sineryoso.
Now ive read it again at the age of 25. My mind has been opened and well yeah, hindi talaga tayo yayaman for being an employee. We have to save, invest and start a business. I already have 6months of my salary in the bank. On my 26th birthday, (last november) i started investing in stocks and UITF for longterm.  I have around 20% paper gain now from my stocks (9 months old), and around 5% paper gain on my UITF.

Also, dont forget to invest in yourself. Educate your self and improve your 'value'. This will help in selling your skills to company, or starting a business. Also invest in life insurance and in your health.

I suggest we keep reading books, attend seminars/webinars about financial education. Search for pesos and sense (website and youtube), marami ka mattunan about investments. Hindi pa rin ako expert, and i keep researching, reading financial blogs and watching financial seminars on my free time

hi me.cryl i have both bdo and bpi accounts. I have uitf in bdo. and i have naman yung automatic deduct with life insurance sa bpi. good for starters.

[mommyysa]

I agree to cranberrygin. It depends on how are you as an investor. For starters, I suggest dun muna sa safe side with guaranteed amount and interest. Then in  time naman kapag knowledgeable kana, pwede kana maging aggressive investor which has higher interest rate of return ng investment. You can try bonds and balance funds muna and then connect it with life insurance para aside sa security mo, your investing at the same time.

[aquacharly]

24.  Save as much as you can: it is hard work & requires hard discipline. Live beneath your means.
       Do not incur debts.
       Commit to a minimum fixed savings deposit every month.
       Watch every peso -- it all adds up.
       Look for opportunities to earn with no investment.  Become a sub-agent or buyer finder for a real estate agent, for example.   Laway lang puhunan, almost.. Or a little transpo. 
        Find out what else you have skills you can earn from. Tutoring?  Dancing?  Computer skills?
        Find out how financially non-productive members of your family can also earn. Every peso counts.  Everyone should contribute to family overhead

24.   Max your earning and savings potential
        Capital accumulation is your goal.  Do not be discouraged. Great fortunes, a lot, started with modest capital.
         When an opportunity presents itself, you will be in a position to grab it & parlay it into a growing business -- if you have savings.  It will also be easier for you to invite co- investors if you have capital to risk.

24.   Stay healthy.  That is 1 of your greatest  resource:  good health.

24.    Stay away from get-rich-quick schemes.   Very promising  deals/ventures more often than not yield just broken promises. 

[lusciousfoxy12]

@snix don't worry with prayer and hard work you can rise from your dilemma. let me share simple but powerful formula.

Income less Savings = Expenses

When you receive your salary pay yourself first. In terms of percentage this is what I do. 10% goes to tithing. No.1 ko si God. 20% goes to savings. And I live by the 70%.

Enrich yourself by reading materials about personal finances. Kaya natin to! 

[patriciaheart]

Joining this thread. Marami good advice, TBH this is the time na marami gastos and marami din ipon depend narin saiyo. Mutual funds are good but better rin sarili business. I switched to working from home (huge offer) and mas lumaki sahod ko, wala gas expense and the fact na yung time ko is saved just increases the value of my money. Wag din masilaw sa pera sis, yang 14k mo pero ok ang time ok ang workplace and you have enough to save and spend with your family and friends plus pursue other money making activities VS. 50k pero nagkakasakit kana at utak mo na kapalit sa stress.

You need your mind not money lol

[gummybearzz13]

Na catch ako ng thread na to. I am turing 23 yrs old na din sa katapusan ng august and earning 25k atleast monthly yan na yung pinakamalinis na mauuwi ko every month after ng mga deductions pa sa company.  Pero sa 25k na yan, 8k ang binibigay ko pang support sa bahay namin sa parents ko then yung another 6k naman ang tinitipid ko kasi may nakuha na kaming house and lot ng bf ko na 10 yrs to pay kaya hati kami sa bayad though kasama na yung savings namin jan kahit maliit lang para naman makapagpakasal na haha 8 years na din kasi kami pero hindi kami nagsasama.   so ang natitira na lang sakin 11k or  sabihin na naten 5,500.00 per cut off na pagkakasyahin ko sa 15 days bago dumating ang susunod na sahod. Pero up to now hirap akong isipin kung saan to napupunta kasi mahilig lang akong kumaen feeling ko kasi yun na ang best reward na mabibigay ko sa sarili ko yung pagkain ng kahit na anong gusto ko.

So meron na bali kaming investment na house and lot tapos we have started na rin ng online shop namuhunan din kami pero maganda naman yung takbo niya.

Hopefully makapagpakasal na din next year, haha. I guess madali lang naman mag invest eh lalo na kung may kasama kang magplan.

[pretty_B]

I'm currently experiencing quarter life crisis and it's really a depressing stage of life for me. Here's my story...

I'm 22, currently working for 2 years now. My salary is OK. OK kasi di naman talaga kataasan sahod ko, siguro average salary rate here in Manila however, our office can give up to 17-18th month bonus. But still, di pa din talaga enough ang sahod ko. Depressing ang estado ko ngayon siguro kasi when I was still in college, napakamaluho ko. ultimo tinitirhan kong bhouse noong college, mas maganda pa sa bhouse ko now na working na ako. And for over 2 years of working, may naipon naman na ako, siguro nasa PHP50k+ na yun. i know ang liit pa din nun, kasi sanay ako sa gastos at dahil na din sa mga travel ko. unfortunately, twice na akong "naloko" at wala talagang naiwan sa mga ipon ko.

BTW, later today pala i am joining AXA's Life Basix na. matagal na din sakin naintroduce ito but then i realized one day na, if hindi ako mag fifirst step, walang mangyayari sa akin. what im planning now is... the bonuses i'll receive for the coming months will go to my credits para ma-clear na ako then hopefully by January 2015, makahinga na ako ng maluwag luwag. Gusto ko na mag-start mag-save at mag-invest  so, i am starting now to invest in knowledge. agree ako sa mga sisses natin dito.

[mxherr5]

That's a VUL. so its insurance with an investment component.

[pretty_B]

hi sis gmarri, tama sis sis mxherr5. it's a VUL. buti ka pa nga sis at sa business napunta ang ipon mo. ako as in wala! naitakas ng ibang tao. hays. my mom tld me na hayaan ko na daw yun at dapat magsilbing lesson for me. >___<

[cussler]

TS, that's very good of you. a very good thing and idea of making an investment at a very young age. I agree to other replies that you should save, regularly, from your monthly income a sum of money to invest. mahirap sa umpisa but pag ma use kana para wala lang yung mga monthly investment mo.

aside from citiseconline, there are other investment company where you can put you money. If you have no knwledge in stock market invesmtent then you can invest in mutual funds. ask mr google, learn how or you can ask GTs here how, i'm sure they are willing to share their ideas and experiences on it.

good luck in your investment.

[Nurse Lynj]

#1 save talaga. First thing to do is set aside 10% of your salary/income para sa savings. I highly suggest reading the book The Secrets of the Millionaire Mind by T Harv Eker. Rich Dad, Poor Dad is a good book too. Mutual funds and other investments are good because you make money work for you. Pero one reality is (quoting from mr.Harv Eker): vast majority of millionaires became rich by being in their own business and yes invest in yourself. Increase your knowledge, read books and find a good guide/mentor.

[jtansanco]

Invest on yourself by probably trying to work abroad (if you can get visa sponsorship) since you'll earn a lot more working somewhere than in the PH...

[mommyysa]

I'm currently reading Chinkee Tan's book, he said, first invest in yourself by having more education (seminars, trainings, books etc.) and invest in a long term financial planning. :-) Yup, thats insurance and investment.

[cussler]

I agree to mommyysa that you should learn "how to" become rich and financial free by attending seminars, trainings, and talk/forums and reading books on personal finances. But, it is not enough. Even if you attended all the seminars and trainings, read all the books and you don't have the commitment, dedication, persistent and "discipline" to save first for yourself walang mangyayari sayo.

[PetiksPinayInvestor]

Hello snix,

Ganito po ako magtipid: kada sweldo, I withdraw 60% of my income and divide it into 6:

1) Tithe
2) Financial Freedom Account (pang invest sa stock market)
3) Emergency Fund
4) Education Fund
5) Long Term Savings for Spending
6) Play

so parang lumalabas tig 20% yung itaas

yung 40% na natira pang daily expenses na po

inuuna ko yung 60% na hatian before the 40%

I got the idea when I attended T Harv Eker's Millionaire Mind Intensive seminar in SG last 2009.
The strategy is called Money Jars method.

After 1 yr, may starting capital na po ako pang invest sa stock market worth 24k (although you can start with 5k only)

today 6 digits na po ang aking stock market portfolio

the Money Jars strategy helps me budget my money and may pondong nailalaan sa mga financial goals 

sa iyong situation, kailangan mong upuan ang sarili mo hehe
ilista mo muna ang lahat ng pinaggagastusan mo.

pag nakita mo na kung magkano ang napupunta sa kung alinman, check mo anung pwede mong bawasan.

Jan mo na malalaman how much ang pwede mong i-save for the 6 items above.

ang tamang formula is SALARY minus SAVINGS equals EXPENSES.

unahin mo po muna mag impok sa iyong sarili. Yung 6 items above are ways to save for yourself first. sa iba ang tawag jan paying yourself first.

[ruthieonline]

Very informative read mga sis. Thank youu! I wonder kung kamusta na si TS ngayon

I'm 24 and also having quarter life crisis. Currently building my investments both financially and educationally (planning to study again for my secondary degree, but still don't know which career path to take). Basa-basa ng books, blogs, webinars, etc to gain more knowledge. Ipon as much as I can while doing so. Right now I have 25k on stock market and hopefully mag 6digits din sya like sis PetiksPinayInvestor's. I'm really inspired by this thread. Good luck to us who are in this stage of life. I know that this is just a phase. It's actually a good thing that we are aware of our situation.

[be_Jenuine]

Ano ba maganda iinvest at the age of 24. Is it business? car? house?