Usually sir na kilala ko naman na pinoy businessman eh pag kumita bili agad ganito,punta doon pero pag tsinoy sa bwat pisong kita eh 80cents nun daw eh iapaikot nila sa negosyo at 20cents sa expenses.
Based lang po ito sa mga nakausap at personal ko pong mga kilala na nagnenegosyo. ✌
Nasa tao yan, wala sa ethnicity. But background really influences you as well. Yung mga kakilala ko na galing sa entrepreneurial families, whether pure filipino or chinese, usually mas simple and masinop sa pera.
Yung mga galing sa pamilyang empleyado, kahit magnegosyo, gastos mindset pa rin. Which is why it takes additional effort to recognize that income from business revenues aren't meant to be consumed like salary, but rather be reinvested in the business.
My friend who owns Suds Laundry utilizes his company's income on expansion and franchising. The last time we met he was driving an old City (year 2000) which he bought from his dad for a small value. He does have vans that he use for delivering supplies to the different branches across Metro Manila. Very simple guy with few little luxuries that I know of.
In short, the best midsize SUV is Business, next is Save.
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If it comprises 100% of what your savings, yes.
Truthfully, I'm not much of a fan of mutual funds. Why? Because of the fees. 2% might seems small but that 2% means you automatically start each year on a -2% handicap. Then there's the matter with performance....
There's a reason why index funds are all the rage in the US.
I do not believe the average motorist can make a good evaluation of our prospects, even if we drive each one for half a day...
Yes, we can probably cross out those that are grossly "unfavorable", but the rest...?
Unfortunately, index funds in the Philippines still have management fees. I know they shouldn't have any, and I've asked banks about that, and hindi rin nila alam sagot.
Actually, when I opened my UITF account in BPI, I was surprised that the girl processing my account knew nothing about stocks or even mutual funds. They just repeat whatever's on the brochure but they don't quite understand the purpose and intricacies of these instruments.
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