Your Financial Plan

[m_lim]

maybe we can share our Financial Plan in this thread.  para makakuha ng tips and tricks from each other.

Here's mine:

turning 31yrs old this year. married with one 3yr old.

1) UITF c/o BDO- for my health fund.

2) Mutual Fund c/o Sunlife-college fund. 15yrs from now.

3) Mutual Fund c/o Philequity- for retirement

4) VUL c/o Sunlife- 2M coverage w/ 1M critical illness benefit.- for illness ko naman ito pang gamot and yung death benefit pang dagdag kay baby. extra money nalang yung kita ng VUL just in case mahaba buhay ko.

5) memorial service plan c/o Sanctuarium

6) emergency fund c/o BPI Save Up- meron din daw ito additional insurance x 5 ng balance mo.

7) savings account- pampasaya ko sa buhay coz life is short!

just in case ma dead ako now, for sure kayang buhayin and pag aralin ni Hubby si baby. may sariling 2 plans rin ang anak namin c/o Philam. hindi ko lang matandaan ano exactly parang something pag 18yrs old pwede na siyang makakuha ng pera...so pwede rin yon pang college fund.

okay na ba yang plan ko? para top up nalang ako ng top up. ang next target ko kung ok na mga yan:

Vault in Sancturium and additional insurance for Hubby. siya ang mas iinsure ko. hehe!

[girlush]

maybe we can share our Financial Plan in this thread.  para makakuha ng tips and tricks from each other.

Here's mine:

turning 31yrs old this year. married with one 3yr old.

Sis how much yung premium mo sa sunlife (VUL)? rider nalang ba yung sa critical illness?
nagco-compare lang ako. sa Generali kase ako kumuha.

thank you

[m_lim]

^sis, ginawa ng agent ko 2 separate VULs, bale 1M coverage each, 500t CIB each and 30t premium each plan. got it when i was 26yrs old, non smoker.

[flighty_phoe]

Here's mine (i'm 29):
1 lot in Cainta - still under Pag-ibig
2 Mutual funds - under Chinabank-Manulife, and Manulife
1 Life Insurance
small lending sideline sa kamag-anak
Poultry Investments
Farm Investments
house and lot with hubby

parang mas gusto namin yung investments lang para mas passive, basta hindi sakit sa ulo yung mga kausap 

[Annie M.]

i want my hubby and i to have P10 million in investments (stocks, etc.) by the time we are 45. according to my calculation, kahit iwan na namin yun without adding anything to it and just let compound interest do its magic, it will grow to P46 million in 20 years assuming a return of 8% per year.  that will be our retirement fund when we're 65.

right now we are saving all of my income and living on my husband's salary. siguro kung tuloy-tuloy ang disiplina and walang mangyaring major disaster, we will hit the P10 million target by the time we're 45.

[killbill]

Hindi ako financially literate as in. Pero i have 2 VULs na with sunlife (isang 10 years, tapos 5 years). Hindi ko din naman ma eexplain kung ano pinagkaiba nung 2. Pero at least it's a start. Lol. Planning to get another one yung health invest plus ng philam kaso not sure if kakayanin pa ng budget.

[imeego]

Kami din ni hubby di financially literate and takot kasi kami sa risk, so what we have are savings account lang..we have 2 kids , and i want to secure their future din talaga kaya nagcompute ako ng possible gastos for their college education..so my plan is:
- deposit 35k monthly for each kid so we could raise 4M for each kid in 10 years time..i think that would be enough for college na..
-the rest ng income will be deposited to our joint account to cover our retirement fund, health fund etc..may target amount kami for our monthly bank deposit and if walang aberya, i think we can save enough amount in 10 years
- we already have our own h&l
Plus
- i own a parcel of land sa province, na pwede namin idispose in case kulangin ng funds

May insurance si hubby but when i asked him di nya alam what kind😳  i was trying to read about the types of insurance pero naguguluhan pa ako, maybe in the future makumbinse ko si hubby to get insurance pa..

[onlytechgirl]

^hi mga sis, good thing to hear na nagsasave tayo for the future.  congrats everyone. Me and my husband have both VUL on Pru Life UK, pero we plan to get another one kasi yun purpose namin dun sa first VUL is for savings lang,, we will go more for protection. As of now, hubby started the business na. Meron din kami sa bank para incase na may urgent need, meron kami nagagalaw.

killbill and imeego, dapat alam niyo kung ano yun plan or kahit policy number niyo. hehe..

 
Annie M. - hi sis, that's a good start of investment, try mo rin sis invest  yun iba sa VUL kasi pag ganyan investment if something happened to both or any of you, your beneficiaries need to pay 20% estate tax bago makuha yun amount..

[fragmentedmind]

Bank savings are good if you know you're going to use the money soon. Pero if for college fund or retirement, lugi.

Consider this from a Financial Literacy site I read:

According to the Commission on Higher education, in the year 2015 alone, the average tuition fee increase was 6.48%. The 5-year aggregate tuition fee increase in since 2008 is a whopping 68%.

If you are putting your money in the bank to save for your child's college fund, siguradong kukulangin. Magkano ba ang interest sa mga bangko ngayon? 0.25%-0.5% per annum. Swerte ka na makakuha ng 1% sa isang taon. Kahit ng sa time deposit 2% ang pinaka-mataas *

So ibig sabhin ang savings sa bank hindi makakasabay sa rate ng increase ng tuition.

I think we all have to realize kung gano nakaka-affect ang inflation sa pera natin. Kunyari na lang yung Chicken Joy sa Jollibee. Nung high school ako 79 pesos will buy me 2-PC Chicken Joy meal. 2-PC! Ngayon 1-PC na lang ang kayang bilhin ng 79 pesos.

So kung iisipin natin kung merong kang 5 million ngayon na itatabi mo sa bangko at ang anak mo 15 years from now pa magka-college, baka isang taong tuition na lang yun pag dating nung panahaon na yun.

Kung medyo risk-averse ka, pwede ka kumuha ng VUL insurance. Eto yung type na may kasamang investment. Tapos ipalagay mo sa least risky na type ng fund (Bond or Balanced). Ang average rate of return the past 10 years sa ganung type ng fund is 4-12%.

[choco_loka]

Sis m_lim i always read your posts and replies sa Savings & Investments thread. Nakaka inspire ka

I just turned 27 and here's what I have:

1. Savings parked in a BPI account
2. Emergency fund in BPI Save-up
3. Emergency fund in CTBC Taiwan account (since I work here)
4. Critical illness plan with AXA
5. VUL with Sunlife for retirement
6. Mutual Fund with Sunlife for retirement or a future home man lang kahit 1BR condo
7. Money in stocks for future wedding (nyahaha wala pa ngang groom!)

Gusto ko rin sana mag open ng UITF sa BPI pero baka next year na.

Hindi ko alam kung enough na yan, pero for now dahil single palang naman ako, siguro top-up top-up nalang din muna. Ang hirap maging financially literate kaya I try to read finance blogs and sign up on webinars since wala naman ako sa Manila.

Thank you for starting this thread!

[hakunamatata]

Ang galing naman ng thread na 'to

here's our financial plan..30 years old with turning 1 year old Daughter.

1. House and Lot
2. Savings in BPI and BDO
3. Retirement plan with Philam Life (for me)
4. Retirement plan for hubby and Educational as well for our child with Prulife UK
5. Sideline in Prulife as additional income and savings na din.
6. Mini money jar (ten peso coins)

Planning to get additional retirement plan for me since maliit lang [textspeak!] Philam Life ko kasi I got it just after my College Graduation, since newly grad maliit pa lang ang sweldo.

Planning to start our emergency fund.

[Annie M.]

^Can you tell us more about your Philam retirement plan, sis? How does it work? Magkano ang contributions, and how much do you get when you retire?

[girlush]

Eto yung sakin, 33 y.o. (single, maybe around 1.5 years from now maging double na) 

1. Life Secure10 (w/dread disease benefit rider) and Saveflex secure by Generali (just like SPVul)
2. Mutual Fund - FAMI (started 2012) and Philequity (1 year)
3. UITF and Money market in Metrobank
4. Cooperative in our company (Just joined last Aug 2014, giving 5-5.5% dividend/year)
5. Time deposit in BDO
6. COL (loss of almost 50k kase nag day trader ako). Kaya back to long term na

Condo in Tagaytay - Since, it never gives an income, I consider it as my liabilities. Hopefully and in God's grace, mapa rentahan ko. I will be in debt for 10 years 

Next project is to save more in able to pay earlier my debt.


sis flighty_phoe, how does lending works?

[[-c-h-a-]]

We have a 2 yr old daughter but we want 2 kids so when I got our insurance, I considered that

1. Super account - retirement fund where my employer deposits 17% of my salary. I can withdraw this when I reach the official retirement age. If I die earlier, this will be added on top of my death benefit.
2. From that Super account - I have inbuilt death, income protection (for loss of income due to accidents etc) and temporary incapacity & disablement benefit
3. BUPA life insurance - aside from, of course, death benefit, this will pay out $15k as well for funeral costs (so there's your "funeral insurance"). If I die because of an accident, it will pay my beneficiaries extra 20% of my cover.

walang education fund dito because parents don't pay for college tuition... so there's really no need for it.



Now, for our "plan"
1. Mutual Funds - eto I really want to start soon
2. Make extra payments to my Super account - Kahit $5k lang a year will add up in 30 years.
3. Have at least 4 investment property (for rental) before 2025

last but not the least... consult a lawyer to make sure if my husband and I die, and our kids are still underage, their guardians won't have free reign on our money. Malaki benefit namin ni hubby (we have separate life insurance and supers) because I took everything into consideration (mortgage and car loans paid off, their education in good schools paid, a car for 2 kids, yearly overseas trips, luxury car for hubby if he wants, etc). Nakakatakot if they spend it on something I don't want them to. I'm a control freak and even after death, I want them to spend our money the way I want them to. So this, I really REALLY need to do!

[hakunamatata]

^Can you tell us more about your Philam retirement plan, sis? How does it work? Magkano ang contributions, and how much do you get when you retire?

hi sis year 2006 ko pa siya nakuha...around 9k lang ang annual ko that time payable for 5 years. after 15 years ang maturity niya around 300k ang makukuha ko after 15 years. maliit lang kasi maliit lang din naman ang premium ko.

[rhumbafrapp]

Nakakainsoire kayo mga sis
I am almost thirty pero so far baby steps palang nagagawa ko
i have palang
Bpi phil-am na life insurance
Manulife afflluence gold vul

Looking forward to have a retirement fund, critical illness and total disability. Also want to have health insurance kasi recently andami ko kilala na nahohospital and nakakatakot expenses nila, i have palang hmo na i got for myself pero i want sana bigger lalo na pag tumatanda e mas madaming sakit
I have contacted agents i know- sunlife, pru life

[flighty_phoe]

@girlush, pautang lang sa kakilala. i think some small lending biz, 5% interest monthly. usually sa mga officemates at kakilala talaga para trusted

[crooked_teeth]

Here's my share: 41 years old, married, with a 10-yr-old son

ON-GOING

1.  Continue Philam Life Abundance Plus, 6 years more to pay- Retirement/Health Fund

2.  Saving for Apartment - for Retirement (right now, lot capital appreciation only)

3.  Continue paying H & L - for Bed space (Cash flow /Passive Income)- thru Pag-ibig

4.  Continue BDO-EIP - for my son's College Fund

5.  Monitor shares @ Multi-purpose Cooperative - for Small Business /Car Acquisition

6.  Regular-Top-up on COL Stocks - for Retirement

7.  Monitor SECB-UITF - Purchase for Small Farm Land
 
8.  Increase BDO Savings - Emergency Fund & Travel fund

9. St Peter Memorial Plan -- 3 more years to pay

10.  Continue Graduate School - 3 more years to finish doctoral

*** So far planning to add life insurance (more on for protection only) for my hubby discreetly since he doesn't want to...

Looking at these regularly motivates me to go on with my life...

[fionaapple]

^30 years old. 4 mos pregnant, married for 11 months now. employed kami pareho ng husband ko.

Medyo nainggit ako sa inyo kasi medyo malayo pa ata yung sa akin.

1. St. Peter Memorial Service - fully paid na, got it when I was 25 yrs old

2. Sunlife MaxiLink Prime VUL - 1M coverage, di ko matandaan ang riders sa ngayon e. para sa husband ko para di siya mahirapan bayaran yung bahay kung sakaling mauna ako. at para sa anak ko, kung sakaling mawala ako. yung VUL, pandagdag sa retirement ---10 years to pay, 7 years to go.

3. Philequity Mutual Fund via COL FundSource - Joint namin ng husband ko, peso-cost averaging kami dito. para sa college fund ng magiging anak namin.

4. Building our emergency fund

5. For our health - covered pa naman kami dahil meron akong health card sa office, included ang husband ko


Loans

1. House and Lot - 2.6M - 20 yrs

2. Car loan - 3 yrs to go

-Konti lang ang nase-save namin kasi medyo mahal yung bahay na nagustuhan namin. at bale malaking part ng emergency fund namin ang mapupunta sa equity ng bahay. pero konting tiis lang naman hanggang mabayaran na yung car. I got the car loan bago pa ako nag-asawa.

-Biglaan yung pagkuha namin ng bahay actually, kasi gusto namin agad magkaroon ng bahay para makapagsarili na. Pero sakripisyo lang habang bata pa kami.

-Pag nag increase ang income namin, i plan to:

1. Boost our emergency fund
2. Open UITF account for future travel fund/health fund
3. Open another Mutual fund account to add to our retirement fund
4. Get more insurance coverage

[brandi]

Joining! Nakaka inggit and motivate at the same time. 😊

I'm 28 and here are what I have:

3 UITF accounts in BDO
1 VUL from Sunlife
Buy and hold stocks in COL
Konting savings in BPI kasi i travel frequently 😝

Plans next year:
Acquire a property. I always wanted a house and lot over a condo, but right now, i don't know why am i even considering a condo. I am planning to live on it btw and not rent it out.
Get a memorial plan. I was wondering kung nakocustomize ba ito? Kasi my parents already got a lot for the whole family eh?
Start a business. 😁