Tuesday, November 29, 2016

Start Young and Wise

It is hard to be a breadwinner. And do you know what's harder? It is the situation of the breadwinner's dependents when suddenly, they are left on their own. 

That's why I'm so glad to have persuaded this 24 yr old IT professional, an eldest in his family, to start with his investment early. He might have just began with his career but he understands fully the gravity of being prepared for anything. Currently, he has to support his two younger siblings in their education and his parents are already in their retiring age yet he's able to budget his salary and make room to what is essential for all of them.

And it's not a bad deal to put up with a Php 2500/month investment for 10 yrs and have 1M pesos life insurance, 500K pesos accident and disability coverage, and more or less 1 Million Pesos withdrawable money at age 50 in return. A bonus well spent? No. But rather, it is a bonus well allotted and utilized.

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