01/06/2024
Good morning everyone! Happy first day of June 😍
Grabeeee...parang kahapon, January palang, tas ngaun nasa midyear na tayooooo...ang bilis naman ng panahon!
Anyway, maaga ako nagising today, mga before 5am para until the rest of the year maaga ako lagi nagsstart ng araw (sana) and I heard about an inspiring lesson for women like me 😍 although March dapat ang women's month (sabi ni google, hnd ko talaga alam 😁)
Let me write here what I have learned about an MDRT blog entitled: "Retirement realities: Unique challenges for women"
But before that, let me also ask this question to myself, "ano ang hindi nagpapatulog saken ng mahimbing sa gabi?"
Women take time to live longer than men, taking time to take care of the family, their wages are less, often has less savings to go by their retirement. Women are more likely alone in their retirement.
I also encountered a quote that the panelist also heard from someone;
"the only woman who's gonna take care of the older woman you're going to be is the younger woman you are TODAY"
Women take care of kids (and pets too), they take care their grandchild, kids, parents & siblings and all of a sudden they run out of money & nothing left to take care of them. (sandwich generation)
Women sometimes feels less confident than men and don't always make many decisions.
So, Barbara A. Pietrangelo, CFP, ChFC recommendation to all women are the four steps to financial planning:
1. Set goals
2. Priorities those goals
3. Taking action is important (although this is the hardest thing to do dahil marami daw tayo naririnig sa social media, sa ibang tao kaya hnd na alam kung anong dapat gawin)
4. Review your actions regularly
And there are 7 things that we also forget sometimes:
1. Spending plan - know how to spend your money and why
2. Major Expenses - emergency money, medical expenses, child's wedding or a college fund
3. Retirement planning - make sure that your money lasts as long as you do (speaking of this, I need to save P60M personally for my own retirement fund based on how long should I live and how much do I want to receive for that - PM me if you want to know how much for you as well)
4. Investment allocations - right mix & allocation for you (I can invest in UITF, Stocks, VUL, Mutual funds, MP2 and I can also save)
5. Risk Management - health insurance, extended care, care at all when I reach old age.
6. Estate plan in order - avoid family conflicts in the future about who will have this and that property or asset that I will leave behind
7. Payment for taxes - or even estate tax
Grabeeee..ang damiii palang dapat planuhin ano? I can't do this on my own but I believe that God wants me to live abundantly, it's not just about finances pero yung hindi ako magiging burden sa magiging family ko sa hinaharap, for me that is a big accomplishment. So help me, God 😍
Un lang muna for now, God bless everyone!
