01/03/2022
1 MILLION Retirement Fund???
May tatlong options ka na pwedeng gawin...
1.) PUT YOUR MONEY IN SAVINGS ACCOUNT… See more
1 MILLION Retirement Fund???
You have three options that you can do...
1.) PUT YOUR MONEY IN SAVINGS ACCOUNT
Para ma-hit mo ang 1,000,000 pesos retirement fund after 20 years. Eto ang computation:
20 years × 12 months = 240 months
So how much money do we need to save to hit that 1 million retirement fund?
1,000,000 pesos ÷ 240 months = 4,166.67 pesos
This means we need to save 4,166.67 pesos per month so we can hit 1 Million in 20 years. Can you? it seems difficult except for the long time, 4,166.67 a month is heavy.
2.) PUT YOUR MONEY IN MUTUAL FUNDS
If average 12% per annum in 20 years using the Wealth Calculator all you need to save is 1,000 per month, the result will be 978,031.12.
That's almost 1 Million Retirement Fund. The question is, can you save 1,000 per month? Of course! You can do it, but the next question is can you do it consistently for 20 years?
3.) PUT YOUR MONEY IN KAISER SAVING PLAN
Eh MAm Ai,isn't Kaiser Long-term Healthcare? YES! You are right there... but Kaiser doesn't only have Healthcare, he also has Life Insurance and Investment Component. His investment component is precomputed.
Just by saving/investing of 5,882 per month for 7 years, you will have 1,166,168 pesos retirement fund by the 20th year (maturity).
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What would you choose to achieve the 1 Million Retirement Fund?
1. Saving 4,166.67 pesos per month for 20 years
2. Investing 1,000 pesos per month for 20 years
3. Investing 5,882 pesos per month for 7 years
For more details just pm me 👇