Adulting with Allen

When I first became a financial advisor, I thought the job was pretty straightforward; I had to meet with people, talk to them for a bit over a coffee or a meal, give them a life insurance policy within their budget, and send them on their merry way.

Today though, six years down the road, more than a hundred personal clients, a couple of critical illness and death claims, thousands of hours of training and reading, and a law degree later, I think I have a better grasp of what it truly means to be a trusted financial advisor.

It is about having the important conversations with my clients - ones which can be very uncomfortable but are necessary nonetheless. It is about holding space for their deepest worries and life goals and then working together on a solution to make sure these dreams can be pursued without worry and secure from life's curveballs.

Thank you for the trust, dear clients! I promise to only get better~

In July 2022, a friend I met from one of the JPIA events I went to consulted me about getting her first life insurance policy. She was 28 and just got happily married.

Since she had no pre-existing health conditions, the application process went smoothly. She got a plan with a monthly premium of Php 5,000.

Fast forward to March 2024, I received a message from her. She informed me that she was diagnosed with thyroid cancer - at 30yo, despite not smoking, rarely drinking, and having no relevant family medical history.

We complied with the documents required by the claims department and were able to complete everything on 26 April.

On 7 June, I received this message featured in the screenshot below. Just 5 weeks from completion of the documents, she received both her early diagnosis and late stage critical illness benefits, surgery expense reimbursement, and confinement income benefit from Pru amounting to more than PHP1,260,000.

She was barely 2 years into her policy and has paid only Php 110,000 in total premiums.

To this day, there are still lots of misconceptions and misinformed voices regarding this financial instrument that is insurance.

But the truth is that insurance is real and insurance pays!

Talk to your trusted advisor today~

Kung wala ka pang ganon, andito lang ako 😉

4 out of 10 Filipino retirees express regret over their past financial decisions:

1) Not saving enough for retirement;
2) Not investing enough for retirement; and
3) Retiring too early.

Most retirees leave the planning for the financial costs of retirement up to practically the last minute, or within 5 to 7 years from their planned age.

Not this doctor though. She will receive income until age 100. The best part?

The income is GUARANTEED.

Retire better. Talk to your trusted advisor today.

Our company’s multiple-time top advisor sharing one of her most significant claim stories.

Insured the client March of 2022.

Client unfortunately suddenly passed away July 2022 due to cardiac arrest, well within the Insurance Code’s mandatory contestability period of 2 years from the policy’s issuance.

The risks we financial advisors race against can indeed happen at anytime. Critical illness, accidents, disability, and even death can happen to anyone without any warning.

Talk to your trusted advisor today. A 30 minute conversation can be very valuable.

Our first international award! 🏆

GAMA Global is the only association dedicated to promoting the professional development needs and leadership skills of first-line and frontline leaders in the insurance, investment, and financial services industry.

2024 was definitely challenging. It was my senior year of law school, bar review and exam season, and my first stab at leading a team of over 20 financial planners officially as a Unit Manager. It wasn't easy, but it was worth it.

This would not have been possible without the continued trust of our clients, the guidance of our mentors and senior leaders, the hard work of our administrative support staff, and the grit and drive for excellence of my teammates.

Nowhere but UP from here! Our journey to creating a community of high-caliber financial planners continues. Next stop: GOLD! 🥇

Still surreal

When I first saw my name on the screen in front of the Supreme Court, I couldn’t help but shed a tear or two.

That was the culmination of the past 5 years - late nights, practically zero holidays off, and many challenges surmounted.

I can now jump head first into the next chapter of my life in service of the people 💚❤️

Atty. Allen Roi M. Cledera, CPA has a nice ring to it, ‘no?

3 of the BIGGEST myths when it comes to estate planning:

1. Only the wealthy have need for estate planning ❌

Nope! Any sound financial planning necessarily includes estate planning. If you already have dependents or own properties, you need to start right away!

Without estate planning, any assets you’ve already acquired for the benefit of your loved ones may be diminished by taxes and other expenses.

2. Only retirees and really old people need estate planning ❌

Nope! People at any age need estate planning. No one is guaranteed tomorrow - regardless if you’re 25 years old or 55 years old.

Not having an estate plan in place can spell financial disaster if you’re already a breadwinner or someone people depend on for support.

3. Estate planning only concerns matters after people are out of the picture ❌

Nope! Estate planning is about:
a. Taking care of your loved ones;
b. Having control over who gets the wealth you have accumulated over your lifetime;
c. Having the peace of mind to enjoy the results of your hard work.

What other myths about estate planning have you heard?

Assisting a client for her medical exam today 🩺

This is one reason why it’s recommended to explore your insurance options before you feel you have a need for it.

The likelihood of getting approved for the coverage you want and deserve is dependent on the status of your health.

Existing medical conditions may cause your application to be declined outright or require a medical evaluation before approval.

Even if approved, some conditions elevate your risk which may increase the cost of getting insured premiums-wise.

Talk to your trusted life insurance professional today. It may save you a lot of money someday ⏰

"Magkano ba kailangan ko ipunin for retirement?"

This is one of the most common questions I encounter from my clients.

The short answer to this is: it depends.

It depends on what you envision your lifestyle would be come retirement. It also depends on what age you plan to retire.

If you are someone who wants to travel the world (or maybe Mars by then, who knows?), the amount you have to save would be substantial.

On the other hand, if you are the type who wants to go off-grid and maybe live off the land in one of the provinces in the Philippines, the cost to retire may be more manageable.

How can you put a figure on the amount you have to save? Think about the monthly allowance or income you would need to receive on a monthly basis to sustain your ideal retirement's lifestyle.

Say you want to receive double the living wage for a resident of Metro Manila* or around PHP 50,000 monthly, and you are currently a 25 year old planning to retire at 60. Let's assume life after retirement would be until 80yo for simplicity's sake.

You would need to receive around PHP 12,000,000 in income to sustain your desired retirement lifestyle without factoring in inflation. If you start saving for this amount from age 25, you would need to set aside PHP 28,571.43 on a monthly basis for 35 years until your retirement at 60.

You would certainly need more if you imagine your retirement to involve a lot of flights and travel destinations.

Thus, the bottomline is that the amount one has to save for retirement may vary. One thing that remains constant, however, is the need to start building that retirement fund early.

Talk to your trusted financial planner today!