I have not been able to update this blog for quite some time, I know. I’ll just post some facts about money that I have been putting in my Facebook profile.
On Becoming a Millionaire
At age 25, if you have started saving and investing 2,500 monthly in an investment vehicle that earns 10% per annum, you’d have 3.2M by the age 50. Extend another 10 more years, then you’d have 8.9M by age 60 – Power of compounding interest.
Or if you’ll follow the one that I’m doing. Invest P5,000.00 monthly (assuming it earns 10% per annum), I’ll have 10 Million by age of 60.
You might say, ‘Di ko kaya ang P2,500.00 or P5,000.00 monthly. Then try this one.
How to have 1 Million Pesos? Save and invest P1,000.00 a month for 22 years. Or P2,000 a month for 17 years. Or P3,000 a month for 13.5 years. Or P4,000 a month for 11.5 years. Or P5,000 a month for 10 years. Assuming it is invested with 10% return per year. Simple lang maging milyonaryo di ba? Kahit sino kayang kaya, kahit janitor or messenger lang.
Don’t think however that you can achieve this in a bank. You won’t a the rate that they are giving us – 0.05% per annum that is. Try Mutual Funds. You might be surprised that it can earn more than 10% per annum.
Give me a text or call at 0922 897 8077 / 09164147400 for a FREE discussion how to open your own mutual fund account.
Start while you are young. Start NOW!
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