Finally! Some good news! I was one of the thousands of people who watched the Bangko Sentral ng Pilipinas (BSP) Facebook Live Event launching the Digital PERA (Personal Equity and Retirement Account) last September 9. Like many Filipinos, I’m looking forward to developments in the implementation of PERA, especially on the application of the tax exemptions and the ability to change PERA administrators. One of the highlights, at least for me, of the event, was the speech of BSP Governor Diokno. I learned so many things, many of them horrifying, about retiring in the Philippines. First off,
This guest post is contributed by Real_Yield, one of the friends I met through the Reddit Phinvest subreddit and its discord server. Real_Yield is a bottomless font of knowledge. From current financial news, high finance concepts, to classical music, you can trust that Real_Yield will have his say, and everyone will listen. After opening his US brokerage account guided by my post How to Open a TD Ameritrade Account as a Non-Resident Alien and as a “token of gratitude” (his words), he consented to share with my readers his experience in wiring funds to TD Ameritrade with BPI.
Despite our best efforts, there may come a time in our lives when we need to have access to a personal loan. One of those times is now when many are carrying the burden of continuing to support our families while at the same time dealing with a slowing economy, growing financial hardships, and even emotional trauma. Even if you started the year with a fully-funded emergency fund, you may be slowly dipping into it to pay for unexpected expenses related to the pandemic. Others may have started the year with a fully-funded emergency fund but is slow, or has
Filipinos are increasingly becoming interested in investing overseas. With the democratization of information, including information only formerly available to the rich and the moneyed, we are now becoming more aware of our financial and investing options, including options outside our borders. My post on How to Open a TD Ameritrade Account as a Non-Resident Alien was read by tens of thousands of people, many of whom opened their TD Ameritrade accounts. So, I pat myself on the back for helping the common folk. Not only Filipinos but also those in non-Western countries like Bhutan, Ecuador, Brazil, and South Korea, etc.,
One of the most aggravating things a person can experience is when their credit card or loan application gets declined. Especially in the Philippines where transparency is not the norm and we don’t have a systematic credit history reporting, many people are left guessing in the cold, wondering why the bank doesn’t want their business. Did the bank think you can’t pay their dues? Why, you have a high income and can comfortably pay off your balance each month. Maybe the bank uncovered your unpaid credit card bills? But that was from years and years ago when you
In my post The Ultimate Guide to Philippine Index Funds, I concluded that among the available index funds in the Philippines, the best option when all things considered is the First Metro Exchange Traded Funded or FMETF. Based on your enthusiastic responses, beautiful readers, you need more information in order to understand FMETF in detail. I heard you. In this post, I will answer your questions (and even the questions you didn’t think to ask) about FMETF. Before we proceed, I would like to clarify that this post is not sponsored by First Metro Asset Management Inc. to promote
I have always been a believer of the saying “If there’s a will, there’s a way.” This was my mantra more than a decade ago when I was trying look for ways to finance my college education. As I’ve shared in this blog before, education was my way out of poverty. Despite the fact that I’m not exceptionally intelligent nor especially talented, I was able to find a way to finish my undergraduate years in one of the Philippines’ top university as a full scholar. Because of this opportunity, I was able to slowly but surely build myself up, help
It’s been a few months since COVID-19 started ravaging the world and unfortunately, the end is not yet in sight. We don’t know when everything will go back to normal. We’re not sure IF things will go back to normal. Financially speaking, a lot of people are struggling due to loss of income and I think it’s just going to be worse from here on out. Many of us are getting by because we’re prepared for emergencies; more are not as fortunate. During the past few months I’ve been observing, talking to real people, and participating in online
I was so glad when I found out that my reading audience is divided almost evenly between men and women. I find this encouraging because to me, this signals that more Filipinas are increasingly taking control of their financial futures. I also want to mention that the most engaging and informative finance blogs in the Philippines are written by women, some of which are included in my list of the best financial blogs in the Philippines for 2020, posted here. Still, the fact remains that the most popular personal finance advice both online and offline overlook the specific needs and
Now that the entire world is being ravaged by the novel coronavirus, I feel paralyzed. Although we felt the effects of the COVID-19 epidemic here in South Korea ahead of the rest of the world (with the exception of China), I wasn’t as scared then as I am now. Now that the epidemic have reached almost all parts of the world including the Philippines, I’m like a deer caught in the headlights. I don’t know what to do, I can’t focus on tasks, I’m scared for humanity. I’m scared for my loved ones back home. I’m scared for my child.
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