2013 Year of the Water Snake Forecasts on Wealth

"Kill the SNAKE of doubt in your soul, crust the worms of fear in your heart and mountains will move out of your way." - Kate Seredy

Xin Nian Kuai Le! 新年快乐!!!  Happy New Year to our Chinese and Chinoy friends and colleagues!  
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I just came from my daughters' Chinese New Year program in school and I thought it will be great to link this event with money matters. 
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My only warning though, is that I am not a feng shui expert or a geomancer or an astrologer and I'm merely using some personal finance concepts and a little bit of common sense.  Although, I would say, I learned a little bit of the Chinese culture way back in college (ehem, enough said... this is not about reminiscing past relationships). =)   

Anyway, here are my forecasts on money matters: 
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"You will have lots of money this year...only if you start your iPon NOW!!!...and do it continuously and regularly"
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"It is bad luck to use credit cards... especially if you cannot pay the balance in full come due date."

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"Be careful in handling your expenses...especially if your income is not enough to cover them."
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"You will have money luck in 2013...especially if you learn how to budget, save and invest wisely." 
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"For the married people with children, you will have more peace of mind for your family this year...especially if you have adequate health and life insurance."
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Geomancer, Joseph Chau, warned that there will be plenty of typhoons and earthquakes this year, as well as car accidents.  So have you updated your home and car insurances too?

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"If you want more prosperity this year, make your money work harder for you and do not just leave them in savings accounts or time deposits for ages..."
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"For relationships to work, it will help if couples talk about money matters too and come up with a financial plan for their family's future.  Money problem is always one of the leading causes of separations and break-ups." 
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"To attract money, handle it with care and give back some to your community, charity or church."
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"Lastly, value more your faith, family, friendships, and health over money.  After all, what will you do with your wealth if your a sick snake who stood up for evil and is all alone."

"Now the serpent was more crafty than any other beast of the field that the Lord God had made. He said to the woman, “Did God actually say, ‘You shall not eat of any tree in the garden’?” And the woman said to the serpent, “We may eat of the fruit of the trees in the garden, but God said, ‘You shall not eat of the fruit of the tree that is in the midst of the garden, neither shall you touch it, lest you die.’” But the serpent said to the woman, “You will not surely die. For God knows that when you eat of it your eyes will be opened, and you will be like God, knowing good and evil.” ...  Genesis 3:1-24

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.


 

Some Money Mistakes I Did as an OFW...

“When you find your path, you must not be afraid. You need to have sufficient courage to make mistakes. Disappointment, defeat, and despair are the tools God uses to show us the way.”
― Paulo Coelho, Brida 

Happy 2013 everyone!!!  I wish you a prosperous, peaceful and blessed new beginning!
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This year has been good to me so far.  I got the opportunity to be invited as a speaker about the basics of investing in UP Los Banos to Industrial Engineering students and faculty members.  It was indeed a great experience!  I can't express how grateful and honored am I to share my story and hopefully, inspire our young ones to start saving and investing.

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As they say, the best thing about growing is to commit your own mistakes and learn from them.  But I guess the hardest part is to humble oneself and admit that you made mistakes.  A braver thing to do is to tell people about your mistakes so that others will learn, that is, if they are willing to listen and believe.
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It's been more than 3 years now since I left my job in London and came back home.  I still am proud to be called an OFW.  Our "kababayans" abroad are really our modern day heroes.  As a result of all the sacrifices they continue to make, OFWs have contributed to the Philippines becoming as the "New Asian Tiger"!  

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I'm sure a lot of our OFWs have prosperous lives now due to their hard work and enhanced purchasing power.  However, there are still a lot who, although earning a lot, are still struggling with their family finances.  Maybe they are still committing the same "money" mistakes I did before.  Here are some of the "zillions" of money mistakes I made.  Happy learning!  =)
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I did not "iPon" (save).     
My 'financial' routine in London was I worked, I got paid every month, I paid my bills, I send money home, I spend, shop, charge my credit card, entertain myself, and spend some more.  Saving was not in my vocabulary. My financial equation that time was:  Expenses Less Income Equals Debt.  

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I did not buy "earning" assets.  
With an exchange rate of 100 Pesos to 1 British pound way back in 2004, I had "purchasing muscle power".  I felt I could buy anything.  I had the latest Nike basketball sneakers, the latest mobile phone, new "branded" clothes every month, etc.  But these are all consumer goods with almost no value after using a couple of times.  I did not know about buying "assets" that will earn me more money.  Investment tools such as stocks, mutual funds, variable unit linked insurance, unit investment trust funds were all "alien" to me.
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I accumulated "debt".  
My best friend in London was my NatWest credit card.  It was my 'life saver' everytime I was short of cash.  Buying was easy with my 'plastic' friend.  I remember when I was about to go home in 2009, I wanted to buy 'pasalubong' for my family and friends.  I said to myself, I'll just charge everything to my 'plastic pal' anyway, I was expecting my 'last salary' afterwards.
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I did not teach my family "how to fish".  
Every month, I would remit some funds to my family in Manila for their household expenses.  For me, its a way of 'giving back' especially to my parents.  I felt good everytime I send them money.  But I realized later that that was not enough.  I wish I was able to teach them how to budget, save and invest.  Anyway, it was 'my bad' as well.  I can't teach what I don't know!

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I did not study about "financial planning".  
I think this is one of the root causes of all my money mistakes.  Back then, my mindset was, I will get paid 'naman' every month so why bother and study about personal finance.  I felt like I'm "Superman on steroids" when it comes to spending but then again, I realized I was more of a "Dumb and Dumber" when in comes to savings and investments.

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Steve Jobs' said that "You can't connect the dots looking forward; you can only connect them looking backwards.  So you have to trust that the dots will somehow connect in your future.  You have to trust in something - your gut, destiny, life, kharma, whatever.  Because believing that the dots will connect down the road will give you the confidence to follow your heart even when it leads you off the well worn path; and that will make all the difference."
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From the leading global city of London, I am now fully settled back in Manila.  I am just excited with my new mission and purpose as a financial planning advocate!  I sincerely wish all my friends, family and "kababayans" that it is really "More Fun in the Philippines" when you have "iPon"!  (Check us out at https://www.facebook.com/iPon.ph)

"He who is faithful in a very little thing is faithful also in much; and he who is unrighteous in a very little thing is unrighteous also in much." - Luke 16:10

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 and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, and most importantly, a "proud" dad of Gia (5yo) and Clarie (4yo).
   
 

OF SECRET AFFAIRS AND PERSONAL FINANCE

"Love ceases to be a pleasure, when it ceases to be a secret." - APHRA BEHN, The Lover's Watch, Four o'clock

Okay, okay.  Here we go again.  By the way, this has been requested by my colleagues after the success of my "No Other Woman" personal finance blog...=)
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But first of all, I would like to say that the PH movie industry has found a way to titillate the public once again with these fantasies about other women, mistresses and secret affairs....si Pinoy as the lover boy, "kasalanan ko ba kung mapagmahal ako" type and "basta driver sweet lover"....at si Pinay naman na matiisin, martyr, "para sa pamilya at mga bata" type....
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What I'm just most concerned about is how our youths and children taking all these kind of movies.....are we promoting the RIGHT values?....there has been several newspaper write-ups about this concern....maybe the movie producers are saying, there is a "moral lesson" naman in every story....but is that enough???  ahh, it's all about making money!!!
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Anyway, this blog is how can we relate this "secret affair" to personal finance...
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In the movie, "A Secret Affair", the guy (Derek) had a "thing" going on with another girl (Andi) but he can't tell his "special one" (Anne) because he was afraid of losing her (Anne)....to cut the story short, Derek ends up losing Anne because he was not able to control himself with Andi who was pretty aggressive in getting what she wants....
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Derek is like anyone of us who can't stop our BAD PERSONAL FINANCE HABITS (i.e. Andi)....we continue to live beyond our means....we continue to spend and use our credit cards even though we can't pay them in full come due date....we continue to live our "lavish lifestyle" despite our limited resources....we are unable to control ourselves in buying the latest gadgets, smartphones, tablets, laptops, cars...we don't know how to budget...also, may I add, we continue to ignore that pesky insurance agent despite knowing that we need life insurance or we need to start saving for our kids' college funding....=)...we are always stressed out, we always want more, we feel out of control...we keep on saying "bahala na"...
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Andi, on the other hand, always comes in a "nice package"...one of her lines in the movie was “I’m surprised you didn’t notice the different cup size!!!”...WOW!!!...Andi is all over the place, in malls, in billboards, on TV, in social medias.."hit LIKE if you want the new iPad MINI or the latest Android phone"...Andi will use her marketing tools to keep you buying and spending..."0% interest if you buy NOW!!!"....she knows your "psychological weaknesses"...how to push your button....she bombards you with your WANTS and not just your NEEDS...."SALE, SALE, SALE"
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Who can Anne be?....I can see her in two ways...Anne can be your personal finance coaches, your Efren Ll. Cruz, your J. Randell Tiongson, your Registered Financial Planners (RFPs), your financial advisor friends who continue to "show love" and remind you that it's not too late to change....that you can improve your financial situation....but you need to start budgeting, saving, paying your debts, protecting yourselves now while there is time....Anne can also be like us, the general public, who "finally decides" to stop this mess, that it is time to TAKE CONTROL of our financial situation....that its time to WORRY LESS, LIVE A HAPPY AND BALANCED LIFE by making the right financial choices and decisions....lastly, we can be like Anne by deciding to stop watching this 'non-sense" movies and spending our TIME AND MONEY WISELY....=)
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“Marriage is not a simple love affair, it's an ordeal, and the ordeal is the sacrifice of ego to a relationship in which two have become one” - Joseph Campbell

Hope this helps.
Ge

Gerald Cantor is a Financial Adviser of Pru Life UK, a Registered Financial Planner graduate,  and a  Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, and most importantly, a "proud" dad of Gia (5yo) and Clarie (3yo). 

Why I Love LIfe Insurance by John Todd

Why I Love Life Insurance

         “ I like being a Life Underwriter Because there’s no worry about safety. There are no labor problems that I can’t cure myself.  I love to create dreams and help in their realization. I like people to trust me. I like people to tell me all about themselves. I like knowing that my boss won’t be angry if I make more money than he does. I like knowing that no one has to die or retire in order for me to make progress. I like working at something where the sky is the limit. I like knowing that when I make a dollar my client may make many more. I like the security that comes with my skills in selling, which no one can take away from me. I like the thrill out of influencing people’s minds to sound conclusions for their benefit. I like my independence. Most of all I like the realization of the indispensable nature of the salesperson in the scheme of things. Those who have gone before us through their accumulated knowledge and experience have handed Alladin’s lamp of those of us who come after, and if we will but use the magic of the lamp there is no limit to our capacity to add to the store of Human Welfare “

                                                                                John Todd

Hope this helps.

Ge

Ge Cantor is a dedicated Financial Consultant of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines (www.personalfinance.ph)., a Registered Financial Planner graduate (www.rfp.ph), and a Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a lay minister and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).   

 

The Prodigal Pre-Need Industry What Should One Consider When Buying A Pre-Need Plan

Here's my first article in MoneySense magazine (May-June 2012 issue). 

The Prodigal Pre-Need Industry What Should One Consider When Buying A Pre-Need Plan

Of Dolphy and Personal Finance "Pick Up Lines"

As a tribute to the King of Comedy, I will "try" to be funny about personal finance words using "pick up lines"...

Here it goes...

(Man) Bangko ka ba?......(Woman) Bakit?...(Man) Kase lagi akong nagbibigay ng pera sa iyo, pero katiting lang ang kinikita ko....

(Man) Piggy bank ka ba?....(Woman) Bakit?...(Man) Kase hindi ka "napupuno" kahit kupit ako ng kupit sa iyo...

(Man) Pera ka ba?...(Woman) Bakit naman.?.... (Man) Kase ang hirap mong kitain pero ang bilis mong mawala....

( Woman) Suweldo ka ba?...(Man) Bakit naman?...(Woman) Kase palagi kang hindi nagtatagal at dumadaan lang sa palad ko....

 (Man) Bills (Meralco, Maynilad, etc.) ka ba?...(Woman) Bakit?...(Man) Kase lagi kitang iniisip at hinihintay...


(Man) ATM ka ba?....(Woman) Bakit?...(Man) Kase lagi akong natutuksong mag-withdraw sa yo....

(Man) Credit Card ka ba?....(Woman) Bakit?...(Man) Kase lagi akong natutuksong gamitin ka....

(Woman) Utang ka ba?....(Man) Bakit?...(Woman)  Kase gusto kita laging pagtaguan pero di ako makatakas sa yo...

(Woman) Life insurance ka ba?....(Man) Bakit?....(Woman) Kase nuong una akala ko di kita kailangan, pero ngayon, I realized, you give me "peace of mind"....

(Woman) Life insurance agent ka ba?....(Man) Bakit?....(Woman) Kase I'm not attracted to you but YOU COMPLETE ME....

(Man) Investments ka ba?....(Woman) Bakit?...(Man) Kase hindi kita maintindihan pero you make me feel rich!...

(Man) Stock Market ka ba?...(Woman) Bakit?...(Man) Kase our relationship is laging up and down...

Whew!!!  =)

Hope this helps.

Ge

Ge Cantor is a dedicated Financial Consultant of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines (www.personalfinance.ph)., a Registered Financial Planner graduate (www.rfp.ph), and a Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a lay minister and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).  

Dangers of "TSAKA NA LANG!"

“Life's tragedy is that we get old too soon and wise too late” - Benjamin Franklin

I'm currently in Hawaii since my Mom now lives here.  After her birthday last May 29, she was rushed to the hospital one early morning as she felt very weak and her feet were sore.  She was diagnosed as having chronic kidney failure so she had to undergo several dialysis treatments until now.  Aside from that she had a double bypass surgery the other day.  She already came out from ICU and is now recovering very well.

Prior to going to the US about 3 years ago, she already had diabetes and she brought all her medications with her.  One of the problems were she was doing self-medication for the past 2 years and it was only recently that she had a proper checkup with a doctor in Hawaii.  She used to say "tsaka na lang" as she was quite busy with work.

As I was watching her in the hospital today, I was reading Dan Ariely's Predictably Irrational - The Hidden 

Forces That Shape Our Decisions".  The chapter I read today is about "The Problem of Procastination and Self-Control" (Why We Can't Make Ourselves Do What We Want to Do.

He talked about Americans having big homes, big cards, big screen plasma TVs but the problem is they have the biggest decline in personal savings rate..that Americans have succumbed to rampant consumerism...and the recent explosion of consumer credit...i.e. the average American family has six credit cards...

He then asks..why can't Americans learn to save part of their paychecks, as they know they should?  Why can't they resist those new purchases?  Why can't they exert some good old-fashioned self-control?

To add further, we promise to save for retirement, but we spend the money on a vacation or big purchases.  We vow to diet, but we surrender to the allure of the dessert cart.  We promise to have our cholesterol checked regularly and then we cancel our appointment.  WHY DO WE LOSE THE FIGHT AGAINST PROCRASTINATION SO FREQUENTLY?

Dan Ariely defined procastination as simply "giving up on our long-term goals for immediate gratification."

Anyway, this "tsaka na lang" o procastination problem is everyone's problem, whether American o Filipino.  

Lessons learned:

• In health, preventive medicine is generally more cost -effective than remedial or corrective approach.  Prevention means getting health exams on a regular basis and LIVING A HEALTH LIFESTYLE before problems develop.
• In personal finance, we often hear PAY YOURSELF FIRST.  This means every pay check, save first before you spend.  But this is SO HARD TO DO for most of us!!!
• In terms of insurance, my prospects would often say "tsaka na lang" ako kukuha ng life insurance or critical illness.  Di ko pa kailangan.  Then. they will often ask you later pag may sakit na sila or they are uninsurable already.
• In the bible, John the Baptist said that we need to change our ways for the Kingdom of God is at hand.  But normally, we only change AFTER going through some personal crisis....
• In our relationships, we often take for granted the people who are close to us....Carole King sang "and it's too late, baby, now it's too late...though we really did try to make it...something inside has died..."
• In sports, before the Bradley boxing match, Manny Pacquiao said "tsaka na lang" ako lalabas, nanunuod pa ako ng Boston Celtics vs. Heat game...nagalit tuloy mga judges sa kanya...=)

While in the hospital, I met Manang Teofila, she is a 71 years old Filipino immigrant and she is a cleaner here.  I said to Manang that I am impressed with her that despite her age, "masipag pa rin sya" coz she is still working.  She said na "kailangan ko pa rin magtrabaho kase para makatulong sa mga apo ko sa Pilipinas na naka depende sa akin."  She further explained that "wala naman kase ako naiipon kase pag may kailangan ng tulong sa pamilya ko sa Pilipinas eh nagpapadala ako.  Katulad nun pinambili ng jeepney ng anak ko."

What would you feel if you heard her story???  She is already 71, still working hard, and yet has no savings for her retirement... I was an OFW before and I "emphatise" with Manang Teofila.  I used to say when I was earning British pounds, "tsaka na lang ako magiipon kase I need to enjoy life while in a foreign country and as long as I support my family."

Procastination.  Tsaka na lang.  Bahala na.

Do we really have to wait for a "painful" experience before we can change for the better???

Hope this helps.

Ge