That Thing Called Tadhana, Of Arrows and Life Insurance Agents

Happy Heart’s Day or Belated Heart’s Day! (…depends on when you are able to read this article). 

Last night, me and my wife had a movie date.  A lot a people were lining up to watch the controversial movie, “Fifty Shades of Grey” (Note:  It was so SOLD OUT, that the mall operator opened another cinema for 12:30AM showing!).  Meanwhile, we silently grabbed our tickets for the movie, “That Thing Called Tadhana”.  Yes, I was forced by my wife!  =)

Anyway, I was fascinated with the animated short story “The Arrow with a Heart Pierced Through Him” that was featured in the film and thought that it might be a good piece for life insurance awareness purposes.

Here’s the original short story in black (Source:  That Thing Called Tadhana by Antoinette Jadaone), followed by  my own interpretation in red.

 

There was an arrow flying in the air, minding his own business, when he suddenly felt something heavy. To his surprise, there was a heart pierced through him.

There was a working man, minding his own business, when he suddenly felt something strange.  To his surprise, there was an insurance agent sending him a text message.

“Where did you come from?” he asked.

“Hu u?  Where did you get my number?” he asked.

But there was no reply.

But there was no reply.

He floated about, asking those along the way, “Have you lost your heart?”

He went about, asking some along the way, “Do I really need life insurance?”

But he couldn’t find the owner of this heart.

But he couldn’t decide for himself.

He decided to ignore the weight he was carrying by going back to doing what he was doing. He floated away carrying the weight of the heart.

He decided to ignore the life insurance agent and went back to what he was doing.  He went away carrying the weight of a non-believing heart.

As time passed, he felt the weight decrease. He was either getting used to the weight he was carrying or the heart was carrying itself. One day, the heart just slowly left the arrow. The arrow was glad because he was no longer carrying the heart that pierced through him. As he went about his way, he noticed that something was still weighing him down. The heart was no longer pierced through him, so he shouldn’t feel burdened at all. The arrow decided to move on and live life normally. But something was different. He realized that he was no longer the same arrow before the heart pierced through him. Something was missing, yet the arrow still flew about his way.

As time passed, he felt the weight decrease.  He was getting used to the life insurance agent texting him but ignoring him again and again.  One day, the life insurance agent just slowly left him in peace.  The working man was glad because he was no longer receiving texts from the life insurance agent.  As he went about his way, he noticed that something was still weighing him down.  The life insurance was no longer bothering him, so he shouldn’t feel burdened at all.  The working man decided to move on and live life normally.  But something was different.  He realized that he was no longer the same single, healthy, and young man he used to be.  He is married now, with kids, and some health problems.  Something was missing, yet that thought of life insurance still flew on his mind.  

Until, he heard a familiar voice, “Have you lost your heart?”

Until, he heard a familiar voice, “Do you need life insurance?”

It was from the heart that pierced through him.

It was from the life insurance agent who texted before.

The arrow didn’t reply, because he didn’t need to.

The working man didn’t reply, because he didn’t need to.

Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com or visit https://www.facebook.com/iPon.ph for more iPon tips.  

GOOOOOOOOGLE LIFE INSURANCE!

“The reality is that we live in an unpredictable world.  Even apart from extreme events such as famines, we face the unexpected constantly.  We do not know whether the traffic will be clear or congested.  We not know if our flight will be delayed or canceled.  We do not know if we’ll slip on a slick road tomorrow and break our wrist and so on.  The only thing we can expect (with great certainty) is the unexpected.  Therefore, we can either wait for the moment and react to it or we can prepare.” – Essentialism, The Disciplined Pursuit of Less by Greg McKeown

What is life insurance really all about?  Who needs life insurance?  Why or when do we need it?  And how much do we need? 

Here are some “free” resources online that will help Filipinos answer the above basic questions, and embrace the essence of life insurance.

Life and Health Insurance Foundation for Education (LIFE), www.lifehappens.org

An American nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures. LIFE does not endorse any product, company or insurance advisor.

Check out the Life Insurance 101 videos and the Life Insurance Needs Calculator. 

Investopedia, www.investopedia.com

Investopedia is the largest website devoted to investing education and personal finance.

You’ll get definitions, tutorials, videos and FAQs about life insurance.

Philippine Life Insurance Association, Inc. (PLIA), www.plia.org.ph

PLIA is the umbrella organization of all life insurance companies operating in the Philippines.

The website includes the basic facts about life insurance including the general classification of life insurance policies.

MoneySense, www.moneysense.com.ph

MoneySense is the Philippines’ only magazine on personal finance.  It provides valuable information about earning, saving, spending, borrowing, investing and protecting one’s wealth.

Relevant “life insurance” posts include calculating how much life insurance you need and 10 ways on cutting your life insurance premiums.

Real Finance People, http://realfinancepeople.com/

Blog posts of Registered Financial Planners (RFPs) Philippines relating to financial planning, spending, saving, borrowing, protecting, and investing.

The site includes posts by personal finance coach J. Randell Tiongson about choosing the right life insurance for you.

According to studies, procrastinators are typically less confident, especially about the tasks they are putting off.  Whether you can invest a couple of hours or even a few minutes in getting to know about life insurance, it is important to take this small step to discern why it really matters to you and your loved ones.  As they say:  “do something today that your future self will thank you for.”

Hope this helps.

Ge


Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com or visit https://www.facebook.com/iPon.ph for more iPon tips. 

Why I got hooked with financial planning? (Part 1)

If you’re given a choice between money and sex appeal, take the money. As you get older, the money will become  your sex appeal. – Katherine Hepburn


***
Financial planning is defined as the process of determining whether and how an individual can meet life goals through the proper management of his or her financial resources.


The objective of financial planning is to ensure the right amount of money is available in the right hands at the right point in the future to achieve an individual's life goals.


***
I've blogged about "Some Money Mistakes I did as an OFW" http://geraldcantor.blogspot.com/2013/01/some-money-mistakes-i-did-as-ofw.html,  and one of the root causes of my failings was my "ignorance" with regards to managing my finances. 


And of course, they don't formally teach about financial planning in school nor at home.
***
Speaking of home, I belong to a typical working-class family.  Both of our parents were employed back then.  With three (3) kids studying in a private school for boys, I remember my parents working very hard, trying to make ends meet, and living from paycheck to paycheck.


At a certain point of my childhood, I distinctly recall that my dad had credit problems with a certain company named "Diners Club".


When my mom retired from government service in 2009, she got a lump sum amount for her retirement.  However, she was only familiar with the usual savings/time deposits in banks and a similar product from their savings & loans association.  So our dilemma before was where to put her "retirement" money?


***
When I came back from London, I thought the "only" way to get rich was to get out of employment and get into business.  So I did, I got my food franchise  (I assumed that this was a "fail-proof" strategy since the business concept is tried and tested).


In less than a year, I accumulated more debt and my money-handling turned from poor to worst.  Back then my lifestyle was I was "spending like an OFW" but I was "earning like a minimum wage earner."
***
My only "saving grace" back then was my first life insurance policy.  This was my one and only "savings" which I started when I was 26 years old.  When I needed funds for my business or for personal use, I relied on my policy for cash withdrawals or loans.


This despite my initial regrets and apprehensions on why I got a life insurance.
***
Got this quote from supposedly Angelina Jolie:  "Without pain, there would be no suffering, without suffering we would never learn from our mistakes.  To make it right, pain and suffering is the key to all windows, without it, there is no way of life."
***
From one mistake to another, from being ignorant, clueless and financially illiterate, my pain and suffering became unbearable...(to be continued)


Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com or visit https://www.facebook.com/iPon.ph for more iPon tips. 

Basketball Finance: #GilasPilipinas #Puso

“Winning is like deodorant – when it comes up, a lot of things no longer stink.” - Doc Rivers, New Coach of LA Clippers

#LabanPilipinas!!!  Mabuhay ang Gilas Pilipinas!!!

I am just so happy and proud of our basketball team for winning the 2013 FIBA Asia silver medal and more importantly, for earning a slot to next year's FIBA World Cup.  It is indeed more fun (to play basketball) in the Philippines!

***

My first love was really basketball!  I even dared and wrote in our grade school yearbook that I will be a "basketball superstar" when I grow up.  Although that didn't happen, I still have the love and passion for the game.

***

Previously, I have published blogs about basketball and how it relates to my current advocacy, which is personal finance (please check them out!).  Now is a great time to resurrect the topic as my own way of paying tribute to our Gilas team.

***

MVP, Coach Chot and the coaching staff.  For me, they are like the "pillars" of financial literacy in the Philippines who continue to promote and educate our kababayans about personal finance.  They are like RFP's Henry Ong, Randell Tiongson, and Efren Cruz, Governor Tetangco of BSP, and Francisco Colayco to name a few.

***

#Puso.  We all have seen how our team fought bigger and taller teams but we fought back with our "bigger" hearts.  In personal finance, this relates to our "behavior" in terms of handling our finances.  As they say, financial planning is 80% behavior and only 20% skills/knowledge.

***

Marcus Douthit and Japeth Aguilar.  These players are like stocks with high risk/high return. Douthit can give us high scores and rebounds but he's got a higher risk of injury, as well.  Japeth provides high-light reels and exciting slam dunks, but his defense (and protecting the paint) needs a little work.

***

Marc Pingris and Gabe Norwood.  These guys are our defensive players.  In terms of personal finance, they are like life insurance.  They provide protection and financial security against untimely death (the shooters), disability (the slashers), accident (the uncontested shots) and critical illness (the easy lay-ups or dunks).  Personally, it would have been great to have Beau Belga in our team.

***

Jayson Castro, LA Tenorio and Jimmy Alapag.  These point guards are simply all about speed, quickness and 3-point shots.  They are like pooled funds (i.e. mutual funds and UITF)  wherein if you don't know where to invest, just put the ball (your money) in their hands and bahala na sila dumiskarte.

***

Ranidel Ocampo.  He can both score (inside and out), and he can defend.  Ranidel is like a Variable-Unit Linked (VUL) plan.  He is a 2-in-1 option, an investment (scorer) and a protection (defender) all in one.

***

Jeff Chan, Larry Fonacier and Gary David.  Our 3-point specialists are like real estate or business investments.  They are capable of providing higher scores (higher returns) but you just have to be patient as to when they will explode!

***

Jun Mar "The Kracken" Fajardo.  I believe he is the "future" of Gilas Pilipinas as he's got the height we desperately need.  We just need to give him more exposure and more scoring opportunities next time.  He is like our "emergency fund".  When Douthit got injured, "The Kracken" took over in managing Haddadi of Iran. 

***

Finally, the whole process of managing and coaching the team with a specific goal of qualifying to the FIBA World Cup is like the "financial planning" process with the objective of achieving life goals to proper management of your finances.

Hope this helps.

Ge

Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com, or contact him at 09177069333 or visit https://www.facebook.com/iPon.ph for more iPon tips. 

Be Like LeBron and Money Matters

"Success is a result of consistent practice of winning skills and actions. There is nothing miraculous about the process. There is no luck involved. Amateurs hope, professionals work." - Bill Russell (11-time NBA Champion)

Finally we have a champion and we can all go back to work! =)

Congratulations to the Miami Heat for the back-to-back championship. A victory of the Heat is always a triumph for Filipinos as represented by Fil-Am Coach Spo!

To the San Antonio Spurs, my full respect and admiration to your team!  To Tim Duncan, don't retire yet.  Please continue representing the "old guys" like us!  As they say, BASKETBALL NEVER STOPS!

After a thrilling NBA playoffs and finals series, I bet there will be a lot of people who will be "motivated" to play basketball again and start imitating their idols.  And the marketing people of all basketball-related consumer brands will pound you with all the advertising gimmicks to be a "WITNESS."  But, are these money wise?

Now everyone wants to be "like LeBron" and one way to be like King James is to have his shoes.  Price?  Based on Nike Park's page, The AirMax LeBron X Low is selling at Php 8,195.  LeBron's PS Elite is at a whopping price of Php 11,995.

Before "JUST DOING IT" and buying, we need to ask ourselves - is this a want or a need?  do I have a debt that I need to pay first? do I just save the money for "emergency" purposes?  do I start investing in the stock market or other "earning" assets, instead?  do I insure myself or my house first?  do I start saving for my children's future education as first priority?

I guess it all depends on your current financial situation. I have a millionaire friend who owns several businesses and he loves basketball.  One time he said, he will never buy a basketball shoes for more that Php 5,000.  And that is why he is rich!  

A long time ago, I thought that to be "like Mike" is to have the latest Air Jordan shoes.  Now, to be like Mike for me is to have the passion, persistence and focus to be the best you want to be (not just the shoes)!

Hope this helps.

Ge

Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com, or contact him at 09177069333 or visit https://www.facebook.com/iPon.ph for more iPon tips.

Transforming the Financial Lives of our Filipino Children

I recently came across an online Time article about the big push for mandatory personal finance classes in U.S. schools.  Apparently, there has been global fight against financial illiteracy with nations like Australia and the U.K. having voted to make financial education mandatory to their school systems.

According to Mr. Richard Cordray, a director of the U.S. Consumer Financial Protection Bureau, “Young people today and future generations should not have to repeat the financial mistakes made by earlier generations.  This is why we support a plan to bring financial education into K-12 classrooms.”

 

Meanwhile, here in the Philippines, President Aquino just signed into a law the “K-to-12 Act” or the Enhanced Basic Education Act of 2013.  This adds three years to the country’s 10-year basic curriculum to make Filipino children at par with their peers in other countries.

Perhaps the next logical step is really to mandate for the inclusion of financial education in grades K-to-12.  Apparently, there is already a “Financial Literacy bill” that has been submitted in 2010 for approval by Congress.  Both the Bangko Sentral ng Pilipinas (BSP) and the Department of Education have also taken steps to teach schoolchildren about saving and investing.

 

During the Citi-FT Financial Educaton Summit 2012, BSP Governor Armando Tetangco Jr. was quoted that “While financial education may not immediately be considered a core function of a monetary authority or a supervisor of the banking system, it is actually quite intrinsically linked to our overarching goal and vision.  To us, financial education empowers people to manage their resources with prudence, instills the discipline of saving regularly, and safely grow their money.”

All of these are good news for the future our Filipino children.  However, we must not forget that children learn first about financial management and discipline (or none of it) in their own families.  Psychologists would say that “children would pay more attention to what an adult does than to what an adult merely says.” Thus, parents play a crucial role in developing the character and values of our Pinoy children, especially when it comes to handling money.

The Philippines is fast becoming the rising tiger of Asia.  With the expected surge of jobs and wealth in the country, we see Filipinos enjoying their new found purchasing power.  Sadly, this leads to the insatiable want for material goods, with the mindset of having more and having the best.

I’d like to quote Mr. Greg W. Huffman and his online article on “Materialism and its effect on culture:”

“Materialism feeds on weak parenting and children feed on weak parents. Children learn everything from their parents.  Raising children the right way is an invaluable way of helping them raise their parents' grandchildren the right way… A culture full of spoiled children extinguishes the fire of earning what we have. A culture full of spoiled children encourages laziness. A culture full of spoiled children breeds spoiled and irresponsible adults… The ability of parents to discuss with their children financial responsibility is paramount. Showing children reality and not "reality" television will benefit them and our culture.”

Hope this helps.

Ge

Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com, or contact him at 09177069333 or visit https://www.facebook.com/iPon.ph for more of his iPon tips.            

 

SORRY, COMPANY POLICY EH!!!

"We employed all efforts just to make an appeal.  But the Vice Chancellor has decided.  She forced my daughter to file a leave of absence because we cannot afford to pay our loan on time.  Forgive me, Kristel, for I have failed you." - Christopher Tejada, father of the University of the Philippines freshman who killed herself, on his meeting with UP Manila Vice Chancellor for Academic Affairs Marie Josephine de Luna who merely reiterated the university's "no late payment" policy. 

It is just so sad to hear what happened to Kristel Tejada, a UP Manila student who committed suicide just because she cannot pay her tuition fees.  She and her family appealed to the school's officials only to be turned down because it's the school's policy!
:::
Both me and my wife went school searching today for our eldest, Gia, who will be in grade school next year.  My wife's first choice is Miriam College in Katipunan as she and most of her sisters and mom were graduates there.  We previously wrote an appeal letter to the Grade School Principal for Gia to be considered for Grade 1.  However the principal courteously explained that under the DECS Kto12 policies, my daughter is not yet qualified because she is 20 days younger/short than the required age of 5 years and 10 months.  She suggested that we talk with the Pre-School Principal for her opinion.  We went to the latter, and she had the same explanation and even showed us the DECS order about the age requirement.
:::
After Miriam, we went to St. Theresa's College in QC.  We submitted the requirements and filled up some forms and it took only about 15 minutes and Gia is now scheduled for assessment for Grade 1 level this April! EASY!!!
:::
To my daughter, Gia, in case you will be famous someday, please give special thanks to Miriam. =)
:::
Why are some institutions or businesses are just too strict with company "policies and procedures?"  Why are they "NOT OPEN" to listening to appeals and requests from their prospects, clients or the people they are suppose to serve?  Don't they know that they are affecting lives here?
:::

One time, I went to the Banco De Oro (BDO) branch in Congressional Avenue to deposit and update my kids' bank accounts.  In BDO, they instruct their clients to queue in two lines, one for "single transactions" and another for "multiple transactions".  Seeing that the line for "multiple transactions" was too long, I went to the "single transactions" line.  Although my transaction only took less than 5 minutes, the teller still reprimanded me and said that next time, I should go to the "multiple transactions" line.  From then on, they lost a loyal customer because of the "masungit na teller."  And for what, its all because of company policy and procedure!
:::
I can understand that policies and procedures are established by companies and institutions to help them achieve their overall objectives.  However, will it be better if there is room for a little bit of "sensitivity" and "consideration" especially if you are dealing with people?
:::

Anyway, just because of company "policies and procedures", some people are just narrow-minded or just too scared to go beyond their call of duty.  Maybe they are doing their company's a favor by just following rules to the letter.  However, just bear in mind the consequences and impact you may have in people's lives.
:::
Lastly, which "epitaph" do you prefer?  1. Here lies a person who is dedicated and loyal to his company and who followed all policies and procedures without fail; or 2.  Here lies a good person who always extends a helping hand and who truly listens and empathize with his customers.  Your choice.

Hope this helps.

Ge
Gerald Cantor is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant, a Certified Internal Auditor, a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com or visit https://www.facebook.com/iPon.ph for more of his iPon tips.