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  1. Join Date
    Jan 2018
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    148
    #31
    Quote Originally Posted by uls View Post

    keep acquiring assets that generate income

    the goal is your assets will generate enough income to support the lifestyle you want

    then you don't have to work anymore
    ^this

    I keep telling my friend this. She doesn't get it. I've run out of ways to explain. I've exhausted all analogies so far. Kinda tiring to have to keep explaining the same point over and over.




    ------------------------------------------
    Stay hungry. Stay humble.

  2. Join Date
    Mar 2013
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    6,160
    #32
    Quote Originally Posted by jut703 View Post
    I remember posting something similar a few years back:



    Indeed, it's good to keep on coming back to this story every now and then to get grounded. Socioeconomic Classifications According to NEDA

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    Yes it was you then . I knew i read it in these forums. Lesson has stayed with me since.

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    Last edited by EQAddict; February 24th, 2018 at 07:37 PM.

  3. Join Date
    Oct 2012
    Posts
    27,626
    #33
    Quote Originally Posted by jut703 View Post
    Again, the numbers don't lie. After all is said and done, the numbers fall that way - only 1% of Filipino households (about 200,000 families) earn over 150k a month. Are you saying the numbers are wrong because mas marami pang naka-PPV at pickup?

    Dami kong kilalang naka-PPV pero maliit lang sweldo. Hindi lahat sila may maid or may magandang bahay. For some of them, the car loans already eats up a big majority of their income.

    May isa akong bisor, nakatira sa maliit na bahay sa Ilocos (yung semento lang, walang pintura). Sweldo niya nasa mga 25-30k lang, plus his brother na OFW. Mga anak niya nasa public school lang. Pero naka-Montero siya.

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    ah

    Anyways total remittance by 2.2M OFWs several years ago was 24B USD in 2015?

    so which class is this 50k/month na tax free ofw families?



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  4. Join Date
    Jul 2007
    Posts
    56,678
    #34
    Quote Originally Posted by jut703 View Post
    May isa akong bisor, nakatira sa maliit na bahay sa Ilocos (yung semento lang, walang pintura). Sweldo niya nasa mga 25-30k lang, plus his brother na OFW. Mga anak niya nasa public school lang. Pero naka-Montero siya.

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    Wow How could he pay amortization with that salary?

    There's this village in Pasig where all the houses look similar - small and cute, the roads are narrow and just enough for 2 cars. My estimate, average 100 sq m cuts (no more than 150 sq m). Nagugulat ako sa mga kotse e. One car garage but everyone has at least 2 cars. And the cars are huge SUVs. I had to reverse my way out of the street because there is no way to manoeuvre (too narrow and cars parked on the road)

  5. Join Date
    Feb 2014
    Posts
    2,531
    #35
    Quote Originally Posted by stayhungry View Post
    ^this

    I keep telling my friend this. She doesn't get it. I've run out of ways to explain. I've exhausted all analogies so far. Kinda tiring to have to keep explaining the same point over and over.




    ------------------------------------------
    Stay hungry. Stay humble.


    mahirap mag analogy. here's a real-world example. we have several rental properties. we rent them out w/ 10-year contracts. rentals come in every month and i just check their payments online. passive income. this allows me to leave the country for up to 2 months at a time coz my other businesses are flexible enough that i could put them on hold for 1 or 2 months

  6. Join Date
    Dec 2006
    Posts
    17,316
    #36
    Quote Originally Posted by _Cathy_ View Post
    Wow How could he pay amortization with that salary?

    There's this village in Pasig where all the houses look similar - small and cute, the roads are narrow and just enough for 2 cars. My estimate, average 100 sq m cuts (no more than 150 sq m). Nagugulat ako sa mga kotse e. One car garage but everyone has at least 2 cars. And the cars are huge SUVs. I had to reverse my way out of the street because there is no way to manoeuvre (too narrow and cars parked on the road)
    Joint income nila ng OFW brother niya. Plus they rent out the Montero every now and then. 2.5k/day ata singil niya so if they rent it out often, bawi na amortization. Socioeconomic Classifications According to NEDA

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  7. Join Date
    Jul 2007
    Posts
    56,678
    #37
    Quote Originally Posted by jut703 View Post
    Joint income nila ng OFW brother niya. Plus they rent out the Montero every now and then. 2.5k/day ata singil niya so if they rent it out often, bawi na amortization. Socioeconomic Classifications According to NEDA

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    Madiskarte naman pala

  8. Join Date
    Jan 2018
    Posts
    148
    #38
    Quote Originally Posted by Vodka View Post
    mahirap mag analogy. here's a real-world example. we have several rental properties. we rent them out w/ 10-year contracts. rentals come in every month and i just check their payments online. passive income. this allows me to leave the country for up to 2 months at a time coz my other businesses are flexible enough that i could put them on hold for 1 or 2 months
    Sigh. Yup. I've given her different variations of that. In the end I'm always give a version of "paano naman passion ko???" With matching sad face


    ------------------------------------------
    Stay hungry. Stay humble.

  9. Join Date
    Dec 2006
    Posts
    17,316
    #39
    Quote Originally Posted by stayhungry View Post
    Sigh. Yup. I've given her different variations of that. In the end I'm always give a version of "paano naman passion ko???" With matching sad face


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    Stay hungry. Stay humble.
    What's the context? How come ayaw niya ng passive income?

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  10. Join Date
    Dec 2006
    Posts
    17,316
    #40
    Quote Originally Posted by Vodka View Post
    mahirap mag analogy. here's a real-world example. we have several rental properties. we rent them out w/ 10-year contracts. rentals come in every month and i just check their payments online. passive income. this allows me to leave the country for up to 2 months at a time coz my other businesses are flexible enough that i could put them on hold for 1 or 2 months
    How do you get the capital for in order to earn rental passive income?

    I'm sure for most people, if given the choice between passive and active income, they would pick the former. But passive income is always making money work for you. But what if yoh dont have the money to begin with?

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Socioeconomic Classifications According to NEDA