ARE YOU PREPARED FOR LIFE’S ROLLERCOASTER? | British & Far East Traders Lifestyle & Shopping Blog
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A financially wealthy individual is a person who has a budget in any circumstances that will happen in
his life along the way. How about you, are you a Financially Wealthy Individual?

In our life we have different stages, stages wherein we have different priorities. But most of the time, we don’t know what we need to prioritise first. Is it our needs, or our wants. How about if something went wrong, are we ready for it? Are we financially ready to face it?

First stage of life, the newly graduate (Got a first JOB) . At this stage, most individuals tend to buy the things they want, the only thing they prioritize on this stage are mostly material things, (like gadgets, accessories, shoes, bags, dresses, pants, watches, etc.). In short, all the material things they wanted to have. They also spend it on a Friday night out, Lunch out, and vacation or stay-cation with co-workers and friends, spending time on coffee shop anytime. 

One time one of my co-worker told me when I was in a corporate world, “You know what, on my first year on my  job, I only use my salary on the things I want to buy, and go wherever I want to, and I feel so great!” That time I was struck by his words, then I realized, How much money was wasted and most especially the time. If only he knows how to spend wisely, and knows what to prioritize, that one year salary would not have been wasted, and imagine how big it is now.

 

Second stage of life, you’ll have your partner (boyfriend/ girlfriend). At this stage, most individuals spend their money, on dates ( on a restaurant, fine-dining, movie date ), special vacation. You want your partner to feel that he or she is very special to you. So you will do anything to make her feel love. On this time, it more becomes heavy on your budget. Especially if your partner is high-maintenance, you cannot settle for less when you’re in a date. After a movie, off course it doesn’t end there, dinner will follow. At this stage, what are your needs, what should be your priority?

 

Here comes third. The wedding (parenting). This is the longest stage of a life of an individual. After the wedding it starts having a baby, one, two, three or even more. At this point, you will work double or triple time. One work is not enough, if possible you will divide your body to work 200%. You now work not only for yourself, but for your family. 

 

Last stage, Retirement. At this point in time you cannot work the way you work on the past years of your life. You only want to relax, and enjoy the only remaining years that will be left in your life. But how, If you’re not financially Prepared for it? Do you know that 8 out of 10 Filipinos depends on their children to support them at this stage? 

How about you? Do you want to be one of the eight? Then you’ll realized, what a waste of time you did during your early days.

Now come to think of it, What life do you want to have? 

 

What do you need to do? You should have a goal, always think about it and focus on it. To do everything and anything just to make it happen.

Each individual have his/her own goal. You want to have a car, house and lot, business, trips and vacation, etc.

But how can you get it? You have three options.

The first one: You invest in a bank. Yes we can say your money is safe in it, but it doesn’t grow that much, basically the bank is earning from you, not you. 

Second option: Invest your money in the stock market, higher and big returns on investment. Your the one earning with your money. But the question is, are you familiar on stocks? Investing on stocks requires knowledge, skills and behavior. If you don’t have the three, it will be hard for you to earn on this investment.

Now what if something bad happens to you along the way of your investing? Where will you get your money if life stopper (critical illness, disablement, or even death) arrives. Are you ready or it? Off-course, you don’t like to use the money you have because you have a purpose for it, but you have no choice to use it. After your medication and recovery, your now ready again to invest. But your again back to start of investing, like back to zero.

 Do you want this to happen to you? How about if you die, are you ready to left your love ones without anything to give them?

Now here comes the third option you have: The Variable Life Insurance. 

Here, you have an investment, wherein it is invested in stocks, but you don’t need to have the knowledge skills and behavior of a fund manager, because there’s someone who will do the part for you. And that is our Fund Managers, (the best in Asia). Most of all, in this investment you will have insurance, wherein whatever happens to you, your savings/ investment will still be there, because your insurance is always there to help you when life stopper arrives. 

No one knows when life-stopper arrives, but you can be ready for it. The right time is now, be ready be insured! 

This post was submitted by John Benico, Financial Consultant PRULIFE UK, Mandaluyong Philippines. 

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