Are you Financially Sound?

**uls** · December 12th, 2007 12:53 PM

kaya bawal magkasakit.

bawal ma-disable.

haynako... hirap maging tao

hehe

**Galactus** · December 13th, 2007 04:11 PM

5. Savings should be diversified. At least 50% should be liquid.

All savings naman are liquid as its easily convertible to cash. Baka naman what you mean are investments (e.g. real estate).

Masyadong mahigpit yung criteria for being financially sound. Sa No. 6 lang ako pumasa, hehehe.

**Red Bureau** · December 13th, 2007 05:17 PM

To be financially sound assumes one thing, i.e., you should have the money. The next question would be, 'how do you create that money?' Now that is where the problem arises.

One should know his priorities. Maganda nga yung sinasabi nung mga investment gurus, the money should be the one working for you which only translates to being able to know how you spend the money you earn, how small it might be. For me, the best thing to save is to live below your means. Some even suggest that for every peso earned, you should save and invest 20% of that while you only spend the remaining 80%. It's a hard rule to follow but delayed gratification is the name of the game if you really want to be financially sound and stable.

**uls** · December 14th, 2007 01:36 PM

ideally, we wanna die before we run out of money.

Thing is, most people run out of money before they die. It's either they didnt save enough money... or they didnt save any money.

People are living too long hehehe

If u retire at 60, and ur gonna live to 80 or 90, thats 20-30 years of life to sustain. How the hell do u sustain 20-30 years of life if u cant work anymore?

u gotta having something that pays u money without u having to go to work coz u cant work anymore.

I think pinoys call that CHILDREN. hehehe

----------------------------------------------------

Man, u better have savings... a LOT of savings.

Ya sure, we can count on social security.

But i wouldnt. social security funds can run out. Or the funds can be mismanaged. or stolen by corrupt people.

U gotta have an ATM in ur living room.

waaaaa.... hirap maging tao

**ghosthunter** · December 15th, 2007 08:11 AM

Originally Posted by bladerunner

to be financially sound, dapat kaya mo tanggapin malugi o negative.

or else, you'll live a life of paranoia. gusto mo oversupply parati para lang mabuhay ng soundly. although I dont even consider that soundly kasi nga paranoia talaga nagpapatakbo sayo

OB, is that a life lesson from you?

**n2knee** · December 16th, 2007 01:05 PM

Originally Posted by DonT

Have read somewhere that for an individual to be financially sound..you have to:
1. Own your own house
2. Own a vehicle
3. Have physical assets in your house which is at most half the cost of your house.
4. Have minimum savings equivalent to twice the cost of your house.
5. Savings should be diversified. At least 50% should be liquid.
6. Of course a steady stream of income should be there to take care of usual expenses.

What do you say? :question:

1.) NO. the bank owns my house. i am still paying mortgage on it.
2.) YES. my cars are paid off
3.) NO. i don't have physical assets inside my house that cost almost $500k dollars
4.) NO. i don't have two mil sitting in the bank
5.) YES.
6.) YES.

so i answred NO to half of it. does it make me not financially well off? sino namang mokong ang gumawa ng standards na iyan?

**1D4LV** · December 21st, 2007 11:41 AM

Originally Posted by DonT

Have read somewhere that for an individual to be financially sound..you have to:
1. Own your own house
2. Own a vehicle
3. Have physical assets in your house which is at most half the cost of your house.
4. Have minimum savings equivalent to twice the cost of your house.
5. Savings should be diversified. At least 50% should be liquid.
6. Of course a steady stream of income should be there to take care of usual expenses.

What do you say? :question:

1. i have one, although it is still mortgaged.
2. we have two. both are fully paid.
3. we have, but i don't know if it is almost half the cost of my house. medyo minimalistic ang theme namin sa house, dahil maliit lang.
4. wala.
5. meron.
6. meron.

pero i still do not feel that i am financially sound.

**vindiesel** · December 22nd, 2007 09:06 AM

Originally Posted by DonT
Have read somewhere that for an individual to be financially sound..you have to:
1. Own your own house
2. Own a vehicle
3. Have physical assets in your house which is at most half the cost of your house.
4. Have minimum savings equivalent to twice the cost of your house.
5. Savings should be diversified. At least 50% should be liquid.
6. Of course a steady stream of income should be there to take care of usual expenses.

What do you say?

================================================== =======
1. yes, fully paid
2. yes, 7 months to go, tapos na ang bayaran
3. no. i feel like i dont need that much. meron kami, yong feel namin importante.
4. no.
5. yes
6. yes, as long na nakakapagtrabaho pa ako.

No. I am not financially sound. Idagdag mo pa dyan ang expenses sa education ng mga anak mo.

in my opinion financially stable ka lang siguro if you can sustain your status in life kahit di ka magtrabaho for 20 years...considering that you retired at the age of 60. may nagtatanong, at what age daw dapat magiging financially stable. well it depends, if you save early and religiously plus meron mga investments, you may retire early. meron namang tao, mamamatay lang wala pang savings. meron din na huli na nagsimula magsave.
the thing is kahit marami kang pera kung di ka marunong humawak o you live above your means, mauubos yan.

**CVT** · December 24th, 2007 02:30 PM

Originally Posted by uls

kaya bawal magkasakit.

bawal ma-disable.

haynako... hirap maging tao

hehe

Tama ka riyan bro......

4909:coffee:

**chilli** · February 3rd, 2008 09:34 AM

1. Own your own house - I'm planning this year.
2. Own a vehicle - Yes I do but Im not fond of driving it because of traffic and parking space
3. Have physical assets in your house which is at most half the cost of your house. - this things, I don't think I am going to buy one even if I can afford it for example. I am just practical to save it to the bank than buy this stuff where I know it will not be the same price like on the day i bought it.
4. Have minimum savings equivalent to twice the cost of your house. - hmm, I dont have this saving yet, but I have enough savings in my bank account.
5. Savings should be diversified. At least 50% should be liquid.
6. Of course a steady stream of should be there to take care of usual expenses.

But I can still say I am financially sound, the fact I am able to send 3 of my brother's children to private school. For me, it means I am Financially sound.