Saturday, May 22, 2010

Of Bonds and Mutual Funds

A co-teacher of mine invited me to a business seminar today. I’ve started learning the ropes of commerce when I became a dealer of Human Nature. It was hard work and I used my own money to start with the capital but it was worth the effort.

I thought it would be good if I get extra money aside from the income I get from teaching so I went there and joined the few handful of people who attended the seminar.

There company’s name is IMG (International Marketing Group). Basically, the seminar shall teaches you financial security. After that you might want to join as a member (membership fee is Php 3,700). Once you become a member and start investing on their products, you get a commission. You get money, too once you’ve managed to sign-up somebody to become a member. Their products are healthcare, life insurance and investments. I already have life insurance and I’m a rider/beneficiary in my mother’s healthcare. I got really interested in investments. I’ve always wanted to invest in stocks and bonds after reading Robert Kiyosaki book’s Rich Dad, Poor Dad (incidentally, his poor dad was a teacher) but I never knew how. I guess, it would be good to start investing with this company. Tempting, tempting! The downside of course, is that I have to pay Php 1,000 every month aside from the initial fee of 5k that I have to pay. Right now, I would like to focus on paying my Sunlife insurance since I haven’t fully paid that one yet.

This year also I’m saving for my trip to Hong Kong. The last time I went abroad was still 6 years ago. I badly want to go out again.

One issue mentioned by one of the speakers is that sooner or later SSS and GSIS (retirement funds of the Philippines) won’t be able to handle all the retirees in 2050 (which is the year I’ll be retiring). They won’t be able to give all the retirement benefits to these old people. Bah!

If you’re a teacher, you can never really trust the income that you get from school so I suggest that teachers start investing!



My co-teacher suggested I invest in the First Metro Save & Learn Equity Fund. Hmmm...


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