How to increase your net worth?

[pinkflirt]

Recently, I became interested in reading topics here at Savings and Investment Thread.  And I realized na compared sa ibang girltalker na mas bata sakin, ang liit ng assets ko.

I am 39 years old and with 2 sons.  I am an ordinary working employee that earns just enough for our family's needs.  And nakakapressure din isipin na in my less than 2 decades of working ay maliit pa lang ang naipupundar ko.

Can you share your tips on how I can increase my net worth.  Nakakahanga yung iba dito na may 8 digit net worth na.

Possible po ba to build an 8-digit net worth by being an employee alone? Or kelangan may business ka?

Thank you in advance.  And sana mabigyan nypo ako ng tips and I will do my best na gawin yung mga tips nyo. 

[hisana]

Hi sis, definitely hindi ako isa dun sa mga gtalkers with an 8-digit net worth okay, iklaro ko lang, haha, but Id like to give my opinion on your situation kasi marami din akong kilala na medyo katulad ng setup mo.

Unang una, do not be too disappointed about your financial status kasi as long as nakakaprovide ka fully for your family?s needs, hindi talaga birong accomplishment yun. Also yung iba kasi started investing young, or had financial help from someone, so of course thats an advantage.

Para sa akin, going into business can be definitely profitable but depende pa rin sa management mo syempre and what kind of business it is. Ako kasi I like din naman the idea of having that kind of income, e kaya lang wala naman akong masyadong aptitude for it, pansin ko lang, kaya Im cautious about going through with it. Maybe someday I will try if I get a better idea for a business and maybe kung may mahanap akong partner. Lately parang napaguusapan namin ng friends ko kung paano ba magfranchise nung mga small food kiosks muna. Anyway, for now, Im exploring how far I can go as an employee, and also I keep an eye out for short-term rackets and sidelines.

Yun lang naman. Hope we can get more tips here.

[nightingale]

Possible po ba to build an 8-digit net worth by being an employee alone? Or kelangan may business ka?

Possible but matagal. and it requires discipline and the desire to let go of "wants". Puro needs lang talaga until maramdaman mo na may sobra na talaga. When I first worked, fresh from school, I was 28 years old and only had P5,000 in my pockets. Mahina savings noong una, kapos pa nga lagi eh, but when I reached 40, nag improve na salary. Nakakaipon na ako ng P1M in 15 months. Now, my net worth is 14M. No liabilities. 7M in real estate that I bought in cash para walang utang sa bangko. The rest are liquid assets nasa banks. Pure employment lang ang source ko, at local employment. Hindi ako nag-abroad.