How to Retire with P10 Million

My grandfather died last holy week at the age of 84. Well, he’s actually the brother of my real grandfather but since my mother grew up with them, he was like a real grandfather to me.

Don’t get me wrong but this has nothing to do with his death nor his estate. It’s just that, after the interment (libing), out-of-no-where, my Tita approached me with a question. Knowing that I’m with Sun Life Financials, she asked me about investment vehicles for retirement.

She was a previous policy holder of Sun Life – sadly she surrendered in 2008 midst the closure of some pre-need companies during that time. She thought that Sun Life will fold too, but fortunately it’s still standing tall, that’s why she’s considering Sun Life again.

Retire with 10 Million

The Need for Retirement Fund

She shared that she has 7 employees at the moment and would want to somehow have a retirement fund for her employees should they decide to stay with her until retirement age. And of course, she also want one for herself. And since she had read books of Chinkee Tan and other financial planners, she knows that with proper investment vehicle, retiring with P10 Million is very achievable.

(By the way, P10 million is only her projected retirement fund need. We haven’t done any Financial Needs Analysis where you can actually project how much retirement fund you will need depending on different factors like life expectancy, income at retirement and existing investments)

I asked her, “Tita, ilan taon ka na nga?”

[ad#content300] She answered “Forty one”.

“At what age would you like to retire?”, I asked.

“Gusto ko Fifty Five”, she answered.

“Actually Tita, we (referring to my wife) are actually doing that right now. Altho it will be different on your case since you’re already forty one. But just to give you an idea, we started at age 30. We invest P5,000/month and plan to do it for 30 years. And if it gives a return of 10% per annum (happily in the past 3 years it’s more than 10%), by the time we reach age 60, we’ll have P10 Million”. I told her.

“Cge nga, icheck mo nga if in 14 years, how much ang kailangan ko per month”, she replied.

“Cge Tita, I’ll try to prepare a projection to determine how much you’ll need to invest on a monthly basis so that you can have P10Million by the time you retire.

Our conversation ended there since they had to go.

I thought to myself, this could be a good guide for people who wants to retire with P10 Million but doesn’t have much time on their side. Why not share it here in Financial Planning Phils.


How to Have 10 Million Retirement Fund?

If you can remember, I previously posted “How to have 1 Million Pesos Even If You’re Just An Employee”.  I guess a lot of people liked it and shared in Facebook for 103 times.

Again, we’re going to use the simplest way to achieve this. No, it’s not by any pyramid scam or networking or any multi level marketing but by having the discipline to regularly invest in Mutual Funds.

[ Ideal for OFWs – 5 year to pay plan Sun Maxilink Bright ]

If you don’t have any idea what Mutual funds is, I suggest you read the articles in this link –

Again, we’re using the 2 allies of money here which is Time and Compounding interest. The longer the time on your side matched with higher interest rate, the more easier to achieve your target retirement fund.

Here’s what I came up with using our Financial Calculator.

Your Starting Age Objective – Retire with 10 Million Pesos At Certain Age (10% Annual Return)
How much do you need to save and invest monthly?
At Age 55 Your Total Savings At Age 60 Your Total Savings At Age 65 Your Total Savings
25 4,848.00 1.65M 2,942.00 1.17M 1,802.00 821K
26 5,365.00 1.77M 3,248.00 1.25M 1,986.00 883K
27 5,942.00 1.89M 3,588.00 1.34M 2,190.00 948K
28 6,585.00 2.02M 3,965.00 1.44M 2,416.00 1.01M
29 7,304.00 2.16M 4,383.00 1.54M 2,666.00 1.09M
30 8,108.00 2.31M 4,848.00 1.65M 2,942.00 1.17M
31 9,011.00 2.46M 5,365.00 1.77M 3,248.00 1.25M
32 10,025.00 2.62M 5,942.00 1.89M 3,588.00 1.34M
33 11,168.00 2.8M 6,585.00 2.02M 3,965.00 1.44M
34 12,459.00 2.98M 7,304.00 2.16M 4,383.00 1.54M
35 13,923.00 3.17M 8,108.00 2.31M 4,848.00 1.65M
36 15,587.00 3.37M 9,011.00 2.46M 5,365.00 1.77M
37 17,487.00 3.58M 10,025.00 2.62M 5,942.00 1.89M
38 19,668.00 3.81M 11,168.00 2.8M 6,585.00 2.02M
39 22,181.00 4.04M 12,459.00 2.98M 7,304.00 2.16M
40 25,098.00 4.29M 13,923.00 3.17M 8,108.00 2.31M
41 28,505.00 4.54M 15,587.00 3.37M 9,011.00 2.46M
42 32,517.00 4.81M 17,487.00 3.58M 10,025.00 2.62M
43 37,290.00 5.1M 19,668.00 3.81M 11,168.00 2.8M
44 43,031.00 5.39M 22,181.00 4.04M 12,459.00 2.98M
45 50,034.00 5.7M 25,098.00 4.29M 13,923.00 3.17M
46 58,722.00 6.02M 28,505.00 4.54M 15,587.00 3.37M
47 69,729.00 6.35M 32,517.00 4.81M 17,487.00 3.58M
48 84,052.00 6.7M 37,290.00 5.1M 19,668.00 3.81M
49 103,351.00 7.06M 43,031.00 5.39M 22,181.00 4.04M
50 130,614.00 7.44M 50,034.00 5.7M 25,098.00 4.29M
51 58,722.00 6.02M 28,505.00 4.54M
52 69,729.00 6.35M 32,517.00 4.81M
53 84,052.00 6.7M 37,290.00 5.1M
54 103,351.00 7.06M 43,031.00 5.39M
55 130,614.00 7.44M 50,034.00 5.7M
56 58,722.00 6.02M
57 69,729.00 6.35M
58 84,052.00 6.7M
59 103,351.00 7.06M
60 130,614.00 7.44M

Say your age right now is 25, you’d like to have P10 Million retirement fund by the time you reach age 55 (that’s 30 years in the making), then you only need to save and invest P4,848.00 in an investment vehicle that earns at least 10% per annum (mutual funds or stocks that is).

And guess how much is your total savings for that – just P1.65Million. Imagine, you get P10Million with only P1.65M. It only means that P8.35Million is the interest you get from that savings.

In our case, we (me and Aileen) altho we started investing in mutual funds at age 28, we only had the discipline to put in P5,000 a month a age 30. We round it off to P5,000 a month instead of P4,848 for easy tracking. Have we been successful in doing it regularly?

So far I could say that we’re ahead of schedule. We even joke sometimes on who’s leading as if it’s a competition.

In the case of my Tita, she’s now 41. If she wants to have P10 Million retirement fund at age 55, she’ll need to invest P28,505.00 per month.

What’s your age right now? Do you also want to have 10Million retirement fund? Better plan and start now.



In a country like ours, having a retirement fund is not mandatory unlike other countries. That’s why it’s a common scenario when Filipinos retire, they got no choice but to depend on their children. (see Story of 2 Lolas)

Even more sadly, it seems that a lot of Filipinos view their children as their salvation when they grow old. Though it’s a good sight to see where children support their parents in their old age, it is not the obligation of our children to do so.

To everyone who are within my generation 50 years and below. I have a simple request to all of you. Let’s make a simple favor to all our children. I hope to see that there will be no parents to take care of – because of the simple fact that we can all take care of ourselves when we grow old.

Let me end with an excerpt from Randell’s blog on what the Bible tells us about retirement.

The Bible actually talks about preparing for the future — many refer to it as the ‘Storehouse’ Principle. Come to think of it, retirement planning is just like filling our storehouses. Let us be consistent in filling up our storehouses so that when the time comes, we will have enough supply for our needs. Retirement planning is no different – we must be faithful in allocating for our retirement so the when we do retire, we will have more than enough. Just as God blesses the storehouses in the biblical times, God will bless our financial plans as well. Remember though, if one does not have a storehouse (or a retirement program in this case), what will God bless then? 


If you want to know more about mutual funds and later open an account – check Pinoy Mutual Funds –

In case you’re the breadwinner and you have dependents, you might want to check Insurance with Investments planSun Maxilink Prime.

In case you’re an OFW, you might want a shorter payment period – 5 year to pay plan – Sun Maxilink Bright

Please SHARE if you learned something. Help us in our Financial advocacy, SHARE!

The following two tabs change content below.
Garry Zaldy de Castro is an advocate, Financial Advisor, Certified Investment Solicitor (Mutual Fund Representative), blogger, IT practitioner, husband to Aileen and a dad to Jacob and JohnD. He started Financial Planning Philippines in 2008 just to share his financial learning to friends, relatives and anyone who wishes to be financially independent.


  1. hello, would you mine if I ask you what mutual fund is the best for me?, for I am only 19 yrs old and wanted to become a millionaire after 20 years. thank you.

  2. sir,i am planning to invest for my retirement though I only
    have 15 years to invest. Can you pls guide me as to which particular Mutual fund should I invest that gives capital growth(through compound interest). Your advice is highly appreciated. More power..

  3. Do you mind if I quote a few of your articles as long as
    I provide credit and sources back to your webpage?
    My website is in the very same niche as yours and my visitors would really benefit
    from a lot of the information you present here. Please let
    me know if this is alright with you.

  4. Brod, ano po bang insurance you’ll recommend from Sunlife? I only want term insurance (10-20 years) with money back feature.

    1. Hi Rakero, when you say Term Insurance these doesn’t have money back feature. Term insurance are disposable insurance like car and house insurance.

      What can I recommend? Personally I got a VUL Plan –

      Mejo mahal, pero 10 years to pay lang xa. I look at as 2 in 1 product. Insured ka na, kumikita pa ung savings mo. While others use Term Insurance + Mutual funds or stocks, I use VUL + mutual funds and stocks. Ayaw ko kasi ng idea na long paying period or pay as long as you live. But then again, that’s just me.

      1. Same here. I actually have a VL policy (life coverage + equity mutual fund) with PhilamLife naman. Well, insurance companies notwithstanding, pareho tayo, I think, ng philosophy. Kailangan lang talaga ng disiplina and proper money management, considering all the fees and expenses we have to contend with every month. 

      2. Hi Sir. Planning to invest in a mutual fund and to follow the guidelines above since this would be my 1st time. Just curious, how did it make 10million in 30 years with 4800+ pesos per month from age 25 to age 55 at 10% per annum interest rate? I mean, can you give me a rough computation how its works just to give me a broader idea? Please email me. Thanks and God bless

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.