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5 Simple Steps to Wealth Creation

Everyone dreams of financial freedom, but only a few achieve it.

Wealth creation is not an easy feat, but with the right mindset and strategies, anyone can build wealth. In this article, we will discuss five simple steps to wealth creation.

  1. Expand Your Earning Potential

The first step to building wealth is to expand your earning potential. Many people rely on one source of income, which is usually derived from their profession or service. However, relying on one source of income can limit your earning potential.

To expand your earning potential, you need to look for other sources of income. There are seven streams of income that you can tap into, such as earned income, royalty income, rental income, interest income, dividend income, capital gains, and business income. You can create a portfolio of these income streams to help you achieve your financial goals.

  1. Invest in Knowledge and Education

Investing in knowledge and education is another crucial step to building wealth. You need to educate yourself on financial literacy, investments, and other areas that can help you grow your wealth. The more you know, the more you can make informed decisions and take advantage of opportunities that can help you build your wealth.

  1. Maintain a Lifestyle Lower Than Your Income

Maintaining a lifestyle lower than your income is a key step to building wealth. Many people fall into the trap of spending more than they earn, which can lead to debt and financial difficulties. By living below your means, you can save more money and invest it in income-generating assets.

  1. Accumulate and Grow What You Can Keep

Accumulating and growing your wealth is another critical step to building wealth. You need to invest your money in assets that can appreciate in value over time. These assets can include stocks, real estate, and other investment vehicles that can help you grow your wealth.

  1. Enjoy the Process

Finally, enjoying the process is a crucial step to building wealth. Wealth creation is not an overnight process, and it requires discipline and commitment. By enjoying the process, you can stay motivated and focused on your goals, even during tough times.

In conclusion, building wealth requires a combination of mindset, strategies, and commitment.

By following these five simple steps, anyone can create wealth and achieve financial freedom.

Remember, the key is to take action and stay committed to your goals.

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Aral Palago Saya

Paano Manalo sa Lotto

Paano nga ba manalo sa Lotto?
May tinatawag na function na expectation E(x).
Ito ay simple lang ang computation.
Magkano ang mapapanalunan i-multiply lang natin sa chance na mapanalunan.

Halimbawa sa 6-58 lotto.
You can win ₱20 if you guess 3 numbers correctly, with a probability of one out of 92.

E(3) = ₱ 20 * 1 / 92 = ₱ 0.22

You can win ₱3,800 if you guess 4 numbers correctly, with a probability of one out of 2,036.

E(4) = ₱ 3,800 * 1 / 2036 = ₱ 1.87

You can win ₱280,000 if you guess 5 numbers correctly, with a probability of one out of 129,728.

E(5) = ₱ 280,000 * 1 / 129,728 = ₱ 2.16

You can win at least ₱50m if you guess 6 numbers correctly, with a probability of one out of 40,475,358

E(6) = ₱ 50m * 1 / 40,475,358 = ₱ 1.24

Kaya sa bawat taya mo ng ₱20, ang expected winning mo ay ang total 0.22 + 1.87 + 2.16 + 1.24 = ₱ 5.48!!!

Kaya laging talo ka sa lotto.
Paano manalo sa lotto?

Hindi naman laging lugi sa bawat bola. Hindi ba ang hindi napanalunan sa isang bola, ay idinadagdag sa jackpot ng kasunod? Kaya lumalaki ang jackpot!!!

Kapag ang jackpot ay ₱637,804,291 o mas malaki, maganda na ang laban sa lotto. Kapag eksaktong ₱637,804,291, ang expected winning ay ₱20 na!
0.22 + 1.87 + 2.16 + 15.76 = ₱20

Kaya actually, maganda tumaya sa lotto na ang prize ay ₱1,026,264,340 (draw ng Oct 10) at pataas, kasi sa ganoon level, ang expected winning ay ₱29.60.
0.22 + 1.87 + 2.16 + 25.36 = ₱29.60

Kung gusto mo paminsan minsan tumaya, maari ka nang tumaya, dahil mas mataas na ang expectation kaysa sa taya!

Pero still, masyadong mababa naman ang chance na one in 40,475,358. Kung may taya ka na 10 ticket, o ₱200 araw-araw, mananalo ka ₱50m isang beses tuwing 11,000 years!!!

Paano manalo sa lotto?
HUWAG TUMAYA SA LOTTO!

Ang ipantataya mo sa lotto nna ₱200 per day o ₱6,000 per month, i-invest mo sa equity mutual funds earning 12-18% per year, at asahan mo, magkakarooon ka ng:
— ₱6m – ₱14m in 20 years
— ₱21m – ₱84m in 30 years
— ₱70m – ₱514m in 40 years

Mas maganda ang ₱70-m to ₱514m in 40 years kaysa ₱50m in 11,000 years hindi ba?

—

Si Coach Bobet ay may YouTube channel https://youTube.com/c/CoachBobet

Categories
Aral Ipon Palago Saya Tipid

Sumali sa FREE IPON.Club School

How does Money Work? Paano ba mag-ipon?

Sa IPON.CLUB School, libre lang ang enrollment. Register lang ng email.
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Ang IMG ay membership platform para sa membership benefits at innovative financial solutions!

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Aral Ipon Palago

Protektahan ang Kinabukasan ng Pamilya!

Sabi ni Bro. Bo Sanchez
Life insurance is simple.
If the Lord takes you home early,
Your children will not go hungry.

Ang pinakamahalaga na life insurance ay proteksyong para sa pamilya.

Halimbawa ikaw ang breadwinner, o kumikita para sa pamilya. Ikaw ang nagdadala ng panggastos para sa pang-araw araw na pangangailangan: pagkain, renta sa bahay, bayad sa kuryente, bayad sa eskwela at iba pa.

Naisip mo na ba

“What if I die too soon?

Who will take care of my family?

Who will pay the bills?”

Kung kunin ka ni Lord, maaring ang life insurance death benefit ang magiging kapalit ng iyong income o kita. Mawala ka man sa mundong ito, protektado pa rin ang kinabukasan ng iyong pamilya, dahil gumawa ka ng “income replacement” gamit ang life insurance.

Ang isa sa pinakamaganda at affordable na solution ngayon ay ang level term with Premium Deposit Fund life insurance plan, gaya ng MOST18 ng Manila Bankers Life Insurance Corporation.

The premium deposit fund is an investment product approved by the Insurance Commission and is guaranteed to have non-negative growth.  It is also withdrawable anytime, including on the first year.

Sa MOST 18, mayroon kang complete flexibility kung kailan ka magbabayad.  Kapag sobra ang iyong bayad, ito ay magiging “deposit” sa PDF.  Pag due na ang premium, iwi-withdraw lang ang pambayad mula sa PDF,

Ang maganda talaga dito ay maari kang magbayad ng mask anong schedule, basta sapat ang PDF pagdating ng due dates.  Ibig sabihin, ang PDF ay kumikita habang hindi ibinabayad sa premium. 

Halimbawa, if you are 30 years old, at may premium ka na ₱5,710 annually for 18 years para sa iyong ₱1m coverage. May one time policy fee din na ₱500.

Ang total na babayaran mo sa 18 taon ay ₱103,280.
Kung ginawa mo na single pay term insurance, kagaya ng sinabi ko, ang sobrang premum ay magpupunta sa premium deposit fund at kikita ng guaranteed non-negative interest every year.

Kung ito ay kikita ng 12% isang taon:
Bayad ka na ₱103,280 sa simula.

  • Ang ₱5,710 ay ibabayad sa premium, at ₱500 sa policy fee:
    ₱103,280 – ₱5,710 – ₱500 = ₱97,070
  • Ang matira na ₱97,070 ay mapupunta sa PDF.
  • Kikita ng 12%, kaya after one year, ang value ay ₱108,718.
  • Sa susunod na taon, babawasan ng ₱5,710, at kikita ng 12%. Bagong value ay ₱115,369.
  • Ituloy tuloy taon taon. Sa dulo ng 18 taon, kung buhay ka ba, ang projected value ay ₱433,844, more than 4 times ng iyong original na  ₱103,280.
  • Kung kunin ka ni Lord, ang death benefit sa pamilya mo ay ₱1,000,000 plus fund value.
  • Sa simula, ang death benefit ay ₱1,000,000 + ₱97,070 o halos 11 times ng iyong ₱103,280.
  • Sa bandang huli, ang death benefit ay ₱1m + ₱433,844  o halos 14 times ng iyong ₱103,280.

Isipin mo na lang:

  • If you die too soon, ang ₱103,280 mo ay mababalik sa family mo ng 11 to 14 times.
  • If you live too long, ang ₱103,280 mo ay mababalik sa iyo ng 4 times.

Siguradong yaman, hindi ba?
Protektado ang pamilya mo if you die too soon, o live too long!
Protektado whether you are around or not!

====
Maaring magtanong kay Coach Bobet. Click lang sa social media links dito o bumisita sa IPON.Club.

Categories
Aral Ipon Palago

Life Insurance First o Emergency Funds?

Question:
Ano ang dapat unahin ng breadwinner. life insurance o emergency funds?

Answer:
Kung ikaw ay breadwinner, ang dapat unahin ay life insurance with no investment component.

Ang tamang sequence ay

  • life protection (if you die to soon)
  • emergency fund (if you have other emergencies)
  • medium-term investment (if you have plans, e.g. children education)
  • long term investment (if you live too long, e.g. retirement)

Kaya kung uunahin ang life insurance, get pure insurance like term. Kung mayroon ka nang emergency fund, you can consider investments.

Ang emergency fund ay ideally 3 to 6 months of expenses. Kung ang expenses mo ay P15k/month, dapat P45k to P90k.

Ang term insurance ay napakamura lamang; para sa 30 year old o below, it is possible to get P1m coverage for a level premium of less than P6k annually for 18 years!

May term life insurance din na may tinatawag na premium-deposit-fund o PDF. Ang PDF ay investment na approved na investment vehicle ng Insurance Commission na may non-negative growth at withdrawable anytime, even o the first year, kaya suitable as an emergency fund. Ang investment guidelines ng IC ang naga-guarantee na non-negative growth ng PDF.

Look at magnitudes, and actual numbers.

For a breadwinner earning P15k/mo,

  • the emergency funds is probably P45k to P60k (3 to six months income or expenses).
  • the income replacement is 5 – 10 years of income or P15k x 12 x 5 to 10 years = P900k to P1.8m

If he can save 20% or P3k/month:

To get term life insurance for P1m, kung 30 and below, he needs less than P6k annual or about 2 months of savings per year.

To get to the desired emergency fund would require 15 months to 30 months. (P3k x 14 = P45k, P3k x 30 = P90k)

Kung uunahin ang life insurance, he can have P1m life insurance immediately and have the emergency funds in 18 to 36 months.

Kung uunahin ang emergency funds, he will be able to get life insurance after 15 to 36 months.

Just think about this:
HIndi ba ang pinakamasakit na emergency sa pamilya ay ang death of the breadwinner?

What if he dies too soon?
Who will take care of the family?
What will they spend?

The death of the breadwinner is the single most catastrophic emergency for a family.

It will be ironic if one prepares for minor emergencies but not prepare for that one major emergency that every family dreads?

Good advisers and practically all financial planners will recommend term insurance sa mga breadwinner na wala pang life insurance at emergency funds.

Term life insurance can be so inexpensive, it is almost criminal not to get one to protect your family, especially if you are the main breadwinner.

Term insurance is recommended especially sa walang emergency funds, sa maraming utang, sa mga hindi pa handang mag-invest.

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