I wanted to start this thread because I wanted to share on what I have learned with regards to getting financial freedom. I am 29 yrs. old on2012, and I regretted as to why I did not get the initiative to start saving or planning for my early retirement(more wealth to help others?....hehe ).
Hopefully, in this thread, I hope to motivate younger Filipinos on the values of becoming financially literate.
So on my first post with regards to Financial Health, I will be sharing about investing in the Philippine stock market, and it isn't good to just put money in your bank. I'm still writing down my material to have a nice format, but here's the main point.
Every year, inflation(cost of commodities: oil, food, clothes, gas, electricty) rises on an average of 7%.
If you put your money on a savings account, your interest gain per year is only 3%.
If you put your money in a time deposit, interest gain per year is 5%.
If you put your money in the stock market, and in giant-solid companies (like SM, Ayala, Cebu Pacific), it is already proven that interest gain per year is at least 11%. And computation for compounded interest is not yet included.
There is a huge difference and you still beat inflation!
More to come...
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