Simplification

I have lots of plans.  I plan of having another house.  I plan of having a new car since I already paid up my first car loan after five (5) painstaking years.  But if I have to ask myself, do I need it?  Will it make me happy?  How can I afford it?  Honestly speaking, if I am pursue those things, it will be in the form of a loan.  Seems not a good idea. It is not necessarily a need.  I might feel satisfied but it won’t make me totally happy.  And getting it through a loan will definitely give me sleepless nights.  Something is holding me back to let go of these plans. What is it?

simplifySometime 2012, I stumbled upon this book written by Bro. Bo Sanchez.  It was published around 2001.  I only got hold of this wonderful book 12 years after it was published.  I regret not being able to get hold of it much earlier.  I could have experienced a turnaround much earlier.  I shouldn’t have done regretful decisions.  I shouldn’t have purchased depreciating items with the use of a loan or credit cards.  I could have invested much earlier on valuable financial instruments.  I could have been much happier now.  I could have been living the good life much earlier.

The turnaround might have come at a later time.  But it is not yet too late.  Long before I conceptualized this blog, I took it upon myself that I will make my life as simple.  Life is already complicated, so why complicate it more by unnecessary things.  I could have opted for a flashier car, but I opted for a simpler one.  A flashier car requires a higher amortization.  More money coming out of my pocket.  As much as possible, I stay away from signature items.  I want simpler ones.  I learned to be happy on simple things which is the way it should be.  I now opted to live in a simple home rather get a new one from an exclusive village which can eat up to my budget which I can use for investment and create wealth. Nothing beats the feeling of staying at home and spending quality time with my family rather than spending it somewhere else.  Though we still go out, we make sure that it won’t be too often.  Besides, we already have what we need at home.  All the basic needs.  All the basic reasons which makes me happy and want to live the good life even more.  And that is LOVE.

Have a nice day friends. 🙂

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A Truly Rich Club Member Anew

Finally, after weeks of coming up with a decision, I decided to rejoin the Truly Rich Club. Yup, you read it right.  I rejoined the club.  I actually joined the club a couple of years ago. I joined twice and I quit twice.  Guess I’m not that ready to be a responsible club member during those times.  But now, there’s no turning back.  I got to do it right this time.  I don’t want to be missing out on the great opportunities of being a member of this club.

TRCFor those who are asking what the Truly Rich Club is, as taken from its official website, it is a private group of individuals who are serious in changing their beliefs and thinking to gain the abundance mentality they need to change their lives forever.  This would not be possible without the guidance of its well loved founder, Bro. Bo Sanchez

My former boss actually introduced me to this man.  From then on, I became interested with his works.  I bought some of his books especially those which promotes financial literacy and inspirational works.

Now going back to the club, there are a lot of changes.  There are still the all time favorites Stocks Update and Wealth Strategies but on how the website looks.  It became more informative.  The Strategic Averaging Method (SAM) table is being updated real time.  I became inspired once again to make my investments work double time this time around. No more dilly dallying.  I’m not getting any younger. 🙂

There are additional blessings for the members.  One of those is the 100K Term Life Insurance.  Members can avail of this benefit if they are already a member of the club for one (1) or have fully paid the one (1) year membership.  For those who can afford, I recommend paying for the one (1) year membership in full since you will be saving 20% of the full year membership if you really want to avail of the term life insurance.  For those who are interested, you may join here.

There is a membership fee.  But come to think of it, Bro. Bo supports a lot of ministries.  I just think of it as a form of tithing.  Its a great feeling if we can give with all our heart.

Well I think that’s it for now regarding my Truly Rich Club membership.  I am looking forward making the most out of this experience.

And as Bro. Bo used to say, “May Your Dreams Come True”. 🙂

My First Missed Opportunity in Mutual Funds

mutual fundBack in 2008, I was introduced by my former boss into mutual funds.  That was the first time I’ve heard of such a thing.  Before that, he told me that he will share something about investment. The first thing that came into my mind was the stock market.  I was surprised when he told me things about mutual funds.  My first question was, “What is that?”

I was introduced into something which was very new to me.  I was not prepared for that.  I don’t even know about Philequity.  Which at that time, or even up to now, is the #1 Mutual Fund company in the Philippines.

So since I really wanted to try something new during that time, I opened up an account. I was told to open up an equity fund.  Whatever it is, I listened to him knowing fully well that as my former boss, he will never do such a foolish thing to me. I later learned that an equity fund invest 90% of the fund in equities and 10% in government securities. I will have a separate post regarding mutual funds and its different classification.

 Moving on,  I shelled out P5,000.00 as the minimum initial investment.  If I remember it right, the NAVPS of the fund during that time was 10.7.  After opening the account, I never tried to add up to my investment.  As the price went down to 7.5, I was discouraged.  I’ve seen my money went down from the initial fund value.  As it recovered back and reached P20/share, I decided to sell all my shares.  Somehow, I was able to double my money.  Doubling my 5,000.00 to up to 10,000.00 doesn’t even made me excited to keep going.  Instead, I kept on living from paycheck to paycheck.  My financial situation was in total disarray.

Fast forward, after reading the Simplify book series of Bro. Bo Sanchez, that’s when I realized that I am a fool.  I allowed an opportunity of a lifetime in the form of Philequity, to slip through my hands.  Now, the NAVPS of that same fund is 34.6.  The NAVPS trend makes me say tsk, tsk, tsk. :-(.  See the uptrend from 2008 to 2015? 

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Reading inspirational books made me decide that I must shape up or else my future will be compromised. I know it’s somehow late in getting my hands wet in the world of investments, but I am sure that it is not too late.