Category Archives: Business

11 reasons why you need to have Variable Universal Link while you are 20’s

When you reach your 20th year in this world, you might be wondering what to do with your first paycheck or how to grow your money while you are earning from your monthly salary and your side gigs. Good news is you have a lot of great options and the best option is you can enjoy the 3 in 1 financial vehicle. This is the VUL also known as Variable Universal Life. If you are not really familiar with this financial tool let me take you to the benefits of having this newest technology in personal finance.

  1. Take advantage of the time – If Piolo Pascual is already a pensioner at the age of 40, you can also retire during that time as long as you start this year. The importance behind it is you need to have a commitment to grow your money while you are still young. Planning is very important as early as now and execution must be in sync with your dream goals.

  1. Combo of an insurance with investments – Many people would like to get into investments but it will be a disaster to put all your money into stocks, real estate or even forex if you never set up your safety net which is emergency funds and insurance. But having a VUL can give you that liberty. The higher your fund value, the greater guaranteed death benefit as well. You can also add an additional rider such as Critical illness benefits or Health insurance benefits.

  1. Professional Management – Are you afraid that you will lose every money that you put into these investments; you should not worry at all. The person who is in charge in driving your fund is a well research, data driven and been a fund manager for many years. If you put money into stocks, you can loss as much as negative 70% in a day, if you can take that, it’s fine but if you have a conservative type of investor get into manage funds.

 

  1. Diversification– In order for your money to gain is quite simple, never put all your eggs in one basket like what the old saying goes. That will enable your funds to grow faster especially there are tons of risk and political noise. When investors hear all those noises the usual reaction is flee from those investments who are at so much risks and you may experience losses that are detrimental to your money that’s why understand the value of spreading your money.

 

  1. Flexibility – You can choose the purpose of your funds whether it’s for your retirement or for your child’s education. This can give you an ideal way to secure your future.

 

  1. Access – You will have the opportunity to see things while your money is growing thru online. It will give you an intangible reassurance that your money is growing over the years.

  1. Administration – Sun Life is the one that takes care of your money, as a very prestigious company who’s been existing more than 120 years we can make your dreams and goals come true thru making sure that there will be good Return in investments and easier claims.

 

  1. Transparent Charges – In every investment you need to pay a certain price and In order for you to get to your destination you need to understand that there’s no freebie in life. You need to use existing money to earn money.

  1. Investment Trade off – There are plenty of funds that you can choose as an option. From your risk profile I can help you choose the best for your situation. Before you invest, understand your goals and risk profile and I’ll show you the strategy.

 

  1. Client is involve – As a client, you are the decision maker, we are just your tour guide. I don’t recommend anything that I haven’t tried yet. Financial advisor must give you insights and the pros and cons of your decision if and when you choose to make some alterations in your investments.

  1. Within your budget – You may say that you don’t have money yet but we can create a plan that’s according to your budget since we would like you to win long-term for your family.

 

David Isaiah Angway is a Registered Financial Planner, Chartered Wealth Advisor and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured multiple times in ABS-CBN News Channel show called On the money, Bloomberg TV Philippines First Up, Morning show of NET 25 called Pambansang Almusal, Eagle Broadcasting Company EagleNewsPh Facebook Live and different radio stations in Metro Manila. He also writes for BusinessMirror, Rappler.com, and MoneySense magazine.

He is the CEO and founder of WinLongTerm Financial Consultancy, that help organizations retain their top key employees such young urban and educated millennial (Gen Y) by teaching practical money management in the workplace. You can contact him thru his website winlongterm.com and his Facebook Page @WinLongTerm for more informative ways how to grow your money and secure your family.

Leave a Comment

Filed under Business, Financial Change, Financial Coach

How can we avoid irrational behavior towards finances?

Hacking your brain to make the best financial decision is not easy as it sounds. Every day we make thousands of decisions from what to buy, eat, dress or watch. Using behavioral economics to shape financial planning in the country is necessary in avoiding biases and intuition that lead to irrational decisions.  Here are the following recommendations in identifying and avoiding such costly mistakes.

mindfulness-1024x537

 

Mindfulness – Knowing yourself is the best way to start and observing how you make decisions will bring you to a higher level. If you are considering investing a large sum of money, or you would like to buy or sell your current stocks, it is highly recommended for you to step back, list the cost and benefit of having that decision. Evaluate and see for yourself the good and bad side of jumping into that decision in the long run.

 

Visionaryadvertising.co.uk

 

Be a visionary – Most people are currently suffering from myopia (near sightedness) but by thinking and seeing your life 10, 20, and 30 years from now, will give you an advantage. Seeing the lifestyle that you want and able to afford with a disciplined financial plan will help you to avoid expensive mistake and able to manage the risk involve. Compare that with the potential savings over time in your financial plan to help you stay aligned with it. The importance of it was also mentioned by Helen Keller when she told us “The only thing worse than being blind is having sight but no vision”.

 

discipline-is-the-bridge-between-goals-and-accomplishment
Discipline – Willingness to continue over time will put you to momentum. When you create and maintain an overall financial plan and stick to it no matter what happen, the result is a stronger muscle of willingness that’s helpful when a tougher situation arises such as resisting the temptation of buying that expensive bag that you love or to bail out during unpredictable times, knowing that a buy-and-hold strategy performs better over the long term than trying to time the market. At the same time, discipline also can mean knowing when to sell. Gains and losses may happen over time.

 

 

schedule prohockeynetwork

Schedule it first –Doing nothing at all is often the easiest choice so having automatic savings and investing plan each month for important long term goals will save you so you can retire with dignity. For many, Myopians (near sighted people) they spend their money in different ways as fast as they can on short-term wants with nothing left or worse buried in debt.  Even investors who want to save for retirement or know they should rebalance their portfolios often fail to take action because they never put their plan in a calendar.

writing-828911_960_720

 

Put it in writing – When emotion is up the logic goes down that’s the strategy of some investors work with advisors to set up a written investment strategy that includes scenarios and how they would act under those circumstances. This allows for flexibility within the parameters of a financial plan and helps avoid making decisions based on emotion. For example, the plan is like a playbook, it consist detail action to be taken if the market increased by 50% or went down by 25%. These game plans are not binding agreements but can provide meaningful ways if an investor begins to have uncertainty with his or her long-term strategy.

 

 

images (1) life coaching

Get an accountability partner – According to Charles Duhigg “human beings behave well if someone sees what they do, while we behave our worse when no one else seems around”. Our human tendencies tend to go back to our old habit of comfort zone. Doing mental accounting like disregarding savings for an out of country trip while having so much debt with credit card and high interest loans proves to be insane. Find a coach, a buddy or even a community that will help you watch out for your irrationality.

 

 

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

 

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

Leave a Comment

Filed under Business, Community, Conventional Wisdom, Finance Talk, Finance Tips, Financial Advice, Uncategorized

Winning financial formula for everyone

 


Image by askmen


Every one is designed to win, wants to win and end up being a winner. Financial problems have simple solutions but that doesn’t mean it is an easy battle. Living your life should be exciting but sometimes you got knock down. With the right amount of knowledge, skills, and attitude you will be back on track.
1.   Get a financial coach
In a generation that is full of information it is easy to get distracted. You badly need insights from someone who can understand and willing to work with you in order  to improve your behavior so you can reach your goals. The end goal of a coach is to simply improve  the clients performance in making sound financial decision. The client will be held accountable for the results of their financial health.   Whenever you watch  Weight watchers and Biggest Loser, those  reality shows have been successful because  of a lot of grind in the  process and change in mental state of the contestants. After the coaching sessions  you are expected to win long term not just for a couple of weeks because the coach was able to empower you with knowledge and equip you will great tools in making your dreams come true.
2.   Manage your cash flow or budget
If you do this everyday or every week am sure you will win long term. By monitoring your behavior and making some action plans after you see the evaluation of your spending pattern it will help you to move forward. Many people are stuck and don’t know what to do with the money they earn, they thought saving some portions of it is the end of the story. What they don’t get is they also NEED to manage the expenses. When you let the expenses overtake your earnings sooner or later you will be in slavery mode (Debt). But if you let that money be in its proper place you are in a good hands. Treat your money like a soldier, if you will place all of them in a war against your old habits (enemy) you will lose a lot of them.
  
3.   Get an Insurance that suits your needs
Many people still don’t see the value of insurance. In a country that most of the people are hardworking but have a poor financial literacy program it is really sad that they can’t see this as a goldmine. You need to get an insurance to secure the needs of the people that you love. If you don’t have a love one then don’t get it. Every body is going to die and you need to prepare for it. I recommend  you to think long  term and know your value. If you are worth 10 million today then get a 10 million or more coverage. Don’t just get one, ask from your insurance agents the things that you need to know or else they might not open up.
4.   Write your will
Imagine  that you have an establish career, your cash flow is good,  you got an insurance and thriving investment together with a happy family but what will happen if you leave the Earth without a will?
If you don’t have a written will and you have so much assets that you have when you die, a complete stranger will decide how to split the  estate  under your name and your love ones like your children will suffer because of that. You are the one to blame if you will mismanage it. Talk to Registered Financial Planners for more info about this.
5.   Revisit your career plan
Planning still the best way to prepare for the worst. Every year should be an exciting year. When mediocrity strikes you then you are setting yourself for less. . Domino effect will happen and you will end up unproductive. Your employer won’t think twice to kick you once your performance drop to the lowest level. Business is business and it will be better to let go of you.
The advantage having a career plan is you got a road map on how to climb up that mountain of road blocks ahead of you. Career choice starts within you not from your boss. You need to write down your skills set that will match to the next job that you have. Pray for divine intervention everyday because it will be a tough decision. You  either might resign and look for the job that you really want or stay within the same company but look for a higher position. Changing your career will also have an effect with your cash flow so you need to think and weigh in things for you to grow.
6.   Have a business.  
Being an entrepreneur needs a lot of commitment. But if you are dedicated to grow more with mistakes and not regrets having a business is a gateway to your success. Grinding and pounding to your next sale will help you get out from living from paycheck to paycheck. Everyone is not cut to be an entrepreneur but you need to think like one. You have crazy abilities. Know yourself and grow it.
I noticed that all billionaires are businessmen who started from ground zero. With your effort, passion multiply it with a really good attitude will help you go on a long way.
7.   Build your  retirement  plan
Study shows that more people once they retire from work are expecting a lot from Social security but according to the statistics, GSIS and SSS cannot sustain the lifestyle that you want. Now, if you want to live comfortably try to make a better choice. Build it brick by brick thru putting your extra funds  in a good pool fund or put it in a stock market with a combination of peso cost averaging multiply it with discipline your money will grow exponentially.  
Our economy is growing plus the pooled funds are doing really well. If you start with 5000 and every month you keep putting the same amount. Historically the equity funds can give minimum of 12% annually. When you do this for the next 30 years you will accumulate 8,258,577.94 regardless of the currency. With the compounding effect PLUS with time and value of money this will roll over and I think you can already live with a retirement in a decent way.

Image from Dave Ramsey Website Financial Calculator

David Isaiah Angway is a Financial Evangelist

Leave a Comment

Filed under Business, Financial Coach, Financial Formula, Retirement, winner