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Life Insurance

You must invest in a Whole life insurance when you begin earning a decent income after college.

Why?

so premium payment will be cheaper when your younger. 

your future family will need it in your timely demise. 

Contact your Life Insurance for a proposal.

Click this link if you need to have the list Life Insurance Company in the Philippines, https://pesolab.com/top-insurance-companies-philippines/

 

The Ideal Stages in life after College 👌

1. Look for work  - buy all the things you need and want.

2. Get Married, build a house, buy a car.

3. Have kids, pay for their education.

4. Retirement/Old Age  - living each month with your pension. No need to further work. Kids were all married and have their own families. No need to rely financially to your kids.

Inevitable events and the solution for each events to ensure that your family will continue to live a comfortable life:

1. Loss of Life - remedy is to buy life insurance and designate your spouse and kids as beneficiaries. This is to ensure that your spouse can continue to provide for your children's food, shelter, clothing, tuition fee and other wants in your absence.

2. Dissabilities - remedy/solution is to have a rider in your life insurance or stand alone product with Critical Illness and Benefit due to Dissabilities. This will avoid hurting your cash on hand while you are ill/disable. (realtalk!)  

3. Long life/old age - invest in mutual funds, Variable life  and Endowment products. Funds will be an additional pension funds (aside from the mandatory government pension - SSS or GSIS pension).

Prepare well while you are still young and active. Remember that money plays a big role for each stage. Be smart with the money you earn. As they say, it is not how much you earn but it is how much you save on what you earn. Pay yourself first by making  sure that you save at least 5% of what you earn. Start it from your first paycheck; make it a habit and increase it in time. The greater percentage of savings, the better.  Life is short,  control your money rather your money controls you (Ex. credit card/personal debts that you used to buy luxury or wants and failed to pay in full come due date).

Illustration below shows that the purple person is you, walking above each stages. If you are well-financially prepare, you and your family will have a smooth travel in this life.