Ask Financial Advisor Noemi

‼️BUSINESS OWNER INSURANCE‼️

𝗔 𝗣𝗿𝗼𝗺𝗶𝘀𝗲 𝗙𝘂𝗹𝗳𝗶𝗹𝗹𝗲𝗱 𝗯𝘆 𝗦𝘂𝗻 𝗟𝗶𝗳𝗲
₱𝟮𝟮,𝟵𝟴𝟰,𝟬𝟱𝟳.𝟲𝟯 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗖𝗹𝗮𝗶𝗺 😇

The client is a 47 year old businessman, active and with a healthy lifestyle.

He was only depositing 700K yearly for 7 years (A total of 4.9M Premium Paid) and it only took less than 1 month for the cheque to be released to his family.

One thing I have learned about businessmen is they know how to protect their assets as much as they know how to earn them.

Why am I sharing this?

✅ If you are earning well either in work or in business, you can do the same as the client did, invest a portion to Life Insurance, so your loved ones will still continue the life you both envisioned even at the time of demise.

✅ For smooth processing of claims, always make sure that the requirements to be submitted is complete.

✅ For those who do not believe in the power of Life Insurance due to their own reasons or worst due to “tsismis”.

ctto

Musings over the generations...

99% of all Filipino seniors are not financially viable until death. What does that mean? It means money runs out ahead of life for 99 of every 100 Filipinos in this country. The average Filipino cannot sustain himself because when he is still earning, he can't and does not save for his own retirement. Why?

The typical Filipino adult today belongs to the "bibingka" generation. Such a reference draws from the manner by which bibingka is cooked: fire above and fire below. Many Filipinos find themselves in that fiery squeeze of financially supporting parents generationally above them while raising their own kids below them. AT THE SAME TIME. With all these obligations in the present, the future will have to take care of itself, right? Bahala na. Sadly, it does not.

While there are times when we find that role, at best, difficult to appreciate (on some days), and at worst downright hateful, (on other days), parenthood is still definitely a blessing we all should cherish and treasure. Without trivializing the daily struggle that the bibingka society imposes on many of us, a little perspective (over a much longer timeline) will help. Immeasurably.

If 99% of all seniors die penniless, it stands to reason that 99% of the time, what is left behind is not generational wealth but generational poverty. Whatever little is saved goes to paying for the medical bills for the inevitable illness that marks the final stage of life. In a country with a practically non-existent healthcare system, debt is often the final act before death. This guarantees that the cycle of dependency continues as every generation is trapped by a legacy of financial desperation and want. Trapped in the bibingka generation.

This vicious cycle has to stop. And if you can't build wealth, achieve financial independence for yourself and pass on a financial windfall to your kids, please guarantee you stop the cycle by not passing on debt when you go. The most precious legacy you can leave behind is to give your kids a clean slate and allow them to pursue their financial dreams freed from the chains of the bibingka generation. For that, a simple solution is available. Get life insurance.
- Jong Merida

By Jong Merida 💛

The iPhone 14 Pro Max 1TB Storage @ 109,990. Everyone and his cousin has an opinion about it and so I'm going to add my voice to the cacophony.

Should one buy or not? The quick answer? It depends on who is buying. The complete answer? It depends on what kind of money the buyer is using.

If you are using capital income to buy your iPhone, that transaction doesn't lower your net worth and comes practically at no cost to you. Free. Why? Because you are using money made by your money. HOW you make your money is the real measure of wealth.

If you are using labor income to buy it, I urge you to give it a second, even a third, think. More so if the money is yet to be earned by the labor you must expend to pay for it.

There is no such thing as a good or a bad purchase. Only the wrong or right buyer.🤯

Learn to live at peace with others. Celebrate other people's victories. Wanting others to fail so you can succeed is not a good thing. This is now the time for collaboration and cooperation.
Stop creating competitions that do not exist.

-Francis Kong

R E T I R E M E N T

1. One day you will retire. You won't be going to work. You won’t have office power any more. No influence or at best, a reduced influence. Your cash flow will also reduce! Check retirement date on your payslip.

2. Always go for your 30days annual leave. Whatever you do during your leave, is what you will be doing when you retire. If all you do is to sleep or watch TV, then that’s what you are likely do do in your retirement. Remember the book of Proverbs. A little sleep and a little slumber, so shall your poverty multiply.
Watching Big Brother will not save you heartache in retirement. Learn a trade or a skill during your leave. It will come handy. Spend your after-office hours learning something. Don’t spend it sleeping, Gossiping, watching TV!! Same goes for your weekend. Make them productive. You will thank yourself for spending your time productively.

3. Invest for your retirement... your children are not retirement investment. Don’t bank on your children’s support or the support of friends or relations. That’s a BIG risk. It may not happen. Be ready to take care of yourself!! Everyone has his own responsibilities. They won’t be able to help you that much. You will also lose your dignity and respect if you adopt a life of begging.

4. Start a hobby early in your working days to take you along when you retire. Rearing chicken, farming or own a shop. Acquire marketable skills (not useless paper certificates), etc.

5. Where shall you retire. Build yourself a home. Don't retire and start to rent a house or refuse to vacate government house. You will be at the mercy of your landlord at a time when your cash flow is not only reduced but unpredictable!!

6. Who shall be your dependants. By the time you retire, your children should be above 18, and self reliant.

7. Don't retire and stay in a big city unless you can TRULY afford it. You can't continue living in a big city after 60 with limited financial resources. The language and the hustle will be hard for you. Where possible, Relocate to a less expensive town where your reduced take home (pension) can go further.

8. Have property which can be rented or converted into cash. Have shares that pay good dividends. Plant cash trees. Rear goats, cultivate vegetables etc. these activities will not only give you income but will also keep you healthy.

9. Live a simple life. If you never built a house at your rural home, dont use your retirement package to build. It is unwise unless you plan to live there on a permanent basis or you are super rich and therefore can afford the luxury. The choice is yours.

Note that many of retirees die early because of the following:

1. They are Not mentally prepared to retire.
2. Lack of finances
3. They Lapse into Depression
4. They develop Hypertension/ Diabetes because of worries, anxiety and uncertainty and financial pressures.

YOUR DESK AT YOUR WORK PLACE IS NOT PERMANENT. PLAN FOR YOUR RETIREMENT.

CTTO

Worth it ang bawat sakripisyo kapag edukasyon ng anak mo ay nasiguro. 🎓

Check out Sun Life's Home for Good Packages here: http://sunlife.co/OFWKidsEducationalPlan

To those who are not comfortable with the volatility of Stock Market, here is a recommendation:

𝐒𝐮𝐧 𝐒𝐦𝐚𝐫𝐭𝐞𝐫 𝐋𝐢𝐟𝐞 𝐄𝐥𝐢𝐭𝐞 𝐏𝐞𝐬𝐨 𝟏𝟎
🔥Here are 7 Compelling Reasons:

1. 𝘾𝙍𝙄𝙎𝙄𝙎 𝙋𝙍𝙊𝙊𝙁 𝙇𝙞𝙛𝙚𝙩𝙞𝙢𝙚 𝙂𝙪𝙖𝙧𝙖𝙣𝙩𝙚𝙚𝙙 𝘾𝙖𝙨𝙝 𝘽𝙚𝙣𝙚𝙛𝙞𝙩𝙨
▪️ As early as end of 6th year of your policy, you get to receive a Guaranteed Pay Out every other year until age 100 regardless of the economic situation

2. 𝙀𝙖𝙧𝙣 𝘿𝙄𝙑𝙄𝘿𝙀𝙉𝘿𝙎 𝙔𝙚𝙖𝙧𝙡𝙮
▪️ You will receive money if the company declares that there is a dividend

3. 𝙈𝙪𝙡𝙩𝙞 𝙂𝙚𝙣𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝘽𝙚𝙣𝙚𝙛𝙞𝙩𝙨
▪️ Even your grandchild will experience benefits

4. 𝙁𝙪𝙩𝙪𝙧𝙚 𝙍𝙚𝙖𝙙𝙮 𝘾𝙧𝙚𝙙𝙞𝙩
▪️ You can borrow money when you need money

5. 𝙁𝙪𝙩𝙪𝙧𝙚 𝙈𝙍𝙄 𝙁𝙤𝙧 𝙃𝙤𝙪𝙨𝙞𝙣𝙜 𝙇𝙤𝙖𝙣
▪️ You can use it if you're going to loan a house

6. 𝙈𝙪𝙡𝙩𝙞-𝙋𝙪𝙥𝙤𝙨𝙚 𝙁𝙪𝙣𝙙
▪️ You can give it as a gift, wedding fund, buy a car, build a business, property and many others

7. 𝙇𝙀𝙂𝘼𝘾𝙔 𝙂𝙞𝙛𝙩 𝙁𝙤𝙧 𝘼 𝙇𝙞𝙛𝙚𝙩𝙞𝙢𝙚
▪️ Your family will never forget you and what you've set-up for them

Credit to the owner
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Bright Wednesday 🌞