How to get RICH in the Philippines

[tumbs]

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getting wealthy is much better than getting rich. you can distinguish what is wealthy and what is rich.

Wealth is the number of months or days you can afford not to work. If you always need to work, then you're not wealthy. You can be rich...or someone with a lot of cash but if you always need to work long hours to earn it, then you're not wealthy. - Robert Kiyosaki........

Just an observation:

in the US : a person earns $8 per HOUR ( minimum wage in a LESS progressive state )
in the Phil : juan earns an average of P350 per DAY ( in VISMIN )

If both want to eat a Quarter Pounder Meal :

US : Meal - $6 ; so the average person needs to work .75 hours to be able to afford the meal; so he has the rest of his daily earnings to pay for his next meal and other needs...

Phil : Meal - P150 ; Juan has to work 3.4 hours so that he can afford the meal...almost half his day...

[cebugdev]

things like politics, selling drugs or even business is NOT ALWAYS the answer for getting rich.
Its on the mindset lang jd!
people must trained their mind on not to be controlled by Money.

[edoy]

pwede raman mag budget ug 20 php per meal 3 x a day, tagsa ka takos rice ug tagsa ka serve nga utan.it's a matter of discipline how to live by your mean at first and EXPAND your mean SOONER.

[cebugdev]

Just an observation:

in the US : a person earns $8 per HOUR ( minimum wage in a LESS progressive state )
in the Phil : juan earns an average of P350 per DAY ( in VISMIN )

If both want to eat a Quarter Pounder Meal :

US : Meal - $6 ; so the average person needs to work .75 hours to be able to afford the meal; so he has the rest of his daily earnings to pay for his next meal and other needs...

Phil : Meal - P150 ; Juan has to work 3.4 hours so that he can afford the meal...almost half his day...

One does not simply compare US and the Phil,
US has bigger taxes, expensive housing, necessity for a car, my point being, they have huge salary coz they have an expensive life.
--> Evidence one: people earning $8 minimum salary are still poor, no car, no own house and is dead beat on credit.
oh wait, even people earning enough salary cant afford to own their house by cash..

in the Phil. your 150 per day is enough for you to complete your 3 meals for the day, just do groceries or eat in carenderia.

I think what R.Kiyosaki is referring is passive income, where you can earn money even without working your @ss off constantly, and lets face the fact, you cant have a passive income if you cant settle your expenses and debts and have capital.

[slabdans]

mag inom kada adlaw...one day millionaire

[tumbs]

One does not simply compare US and the Phil,
US has bigger taxes, expensive housing, necessity for a car, my point being, they have huge salary coz they have an expensive life.
--> Evidence one: people earning $8 minimum salary are still poor, no car, no own house and is dead beat on credit.
oh wait, even people earning enough salary cant afford to own their house by cash..

in the Phil. your 150 per day is enough for you to complete your 3 meals for the day, just do groceries or eat in carenderia.

I think what R.Kiyosaki is referring is passive income, where you can earn money even without working your @ss off constantly, and lets face the fact, you cant have a passive income if you cant settle your expenses and debts and have capital.

1.bigger taxes = better services/infrastructure = better life
2. even if life is expensive, they still can afford it = they have better life
3. even if he has no car or house or is dead beat in credit, juan also has no car, no house, and dead beat in credit
4. he can't buy a house or car in cash, but if he works hard he can later buy it in credit..juan cant buy a house or a car on cash or credit for a very long time
5. want kind of food for P150 for 3 meals?

[cebugdev]

1.bigger taxes = better services/infrastructure = better life
2. even if life is expensive, they still can afford it = they have better life
3. even if he has no car or house or is dead beat in credit, juan also has no car, no house, and dead beat in credit
4. he can't buy a house or car in cash, but if he works hard he can later buy it in credit..juan cant buy a house or a car on cash or credit for a very long time
5. want kind of food for P150 for 3 meals?

1. agree on that.
2. "better life" is subjective, and I don't think americans share share the same sentiment. Remember we are talking about people earning $8 an hour, the minimum salary.

3. Juan can live without a house or a car in Pinas, since it is NOT a necessity but a Luxury, You can rent cheap apartment in Pinas and can live without a car. FACT Check: Americans CANT survive on their minimum salary, Most of them works in 3 jobs shift. those $8 people you are referring to, most of them live in Project houses.

4. I totally disagree on you with this, its a matter of the mindset of "juan" and who is "juan" we are referring with. Anyone who works hard even if he is Juan, John Smith or a kid named Jesus can buy a house or a car if he work his ass off hard. heck I started with minimum salary in Cebu and bought my own house straight cash (im still < 30 yrs old) after 7 years and about to reach my second [M]ilestone this year.

5. Seriously you have no idea? bet you haven't tried eating in carenderia or cooking for your own food

..again we are talking about minimum earners here, from what you posted, its not that you are referring to that $8 earner, but to mid class Americans..

my point again is that, if Juan learn how to spend money wisely then nothing is impossible (bullet #4 ).

Well anyway, I'll rest my case, I will not post any further with regards to this, I'm just tired of people hearing and raising a point that Going abroad is always a solution.

Well some of us accepts and lives for the thrill of the challenges in finding Gold in the Philippines,
and some of us prefers the easy way (drugs, politics and going abroads are considered shortcuts),
I just posted here to share that you can live that life without taking the shortcuts but by discipline and good mindset.

peace, me out!

[Bricksand]

Seriously, in our economic state having a positive mindset is not just enough you must take action and have a strong motivation to never give up on things.

Let me share some possible routes...this is a longterm plan 20-30 years.

If you are on your

Early 20's and already earning:
1. Start saving.
2. Invest on Life Insurance (focus more on dividends/investment side of the policy go for equity 100%).
3. Start early in compounding your savings by putting it in Mutual Funds. (5K starting capital then add 1k-2K per month).

Late 20's and not *married:
1. Still not too late to save.
2. Also invest in Life insurance (same focus on dividends instead of protection/investment side of the policy will be mix 50% managed fund then 50% Equity)
3. Still invest in MF but the top up monthly will be doubled.
*married ones wil have hard time coping with this due to high possible expenses but case to case basis unless you are earning well then no problem at all.

Let's jump to Late 30's like me *smiles to Early 40's:
1. Diversify your investment portfolios if you already have (MF, UITF, Insurance (more on Protection assuming all are married so that your dependents will no longer worry if you'll pass away), and any other conservative investment vehicles.)
2. Try starting a business which is inline to your interest.
3. Start investing for your retirement.

Note: Above statement is only applicable to some and each financial situation is a great factor for better financial planning. If you need assistance just PM me.

[jenzen123]

hmmmm ang pag taigum ragyud nah ug right investment,..... Ako naa pako sa tigum stage.. hehehe

- - - Updated - - -

Seriously, in our economic state having a positive mindset is not just enough you must take action and have a strong motivation to never give up on things.

Let me share some possible routes...this is a longterm plan 20-30 years.

If you are on your

Early 20's and already earning:
1. Start saving.
2. Invest on Life Insurance (focus more on dividends/investment side of the policy go for equity 100%).
3. Start early in compounding your savings by putting it in Mutual Funds. (5K starting capital then add 1k-2K per month).

Late 20's and not *married:
1. Still not too late to save.
2. Also invest in Life insurance (same focus on dividends instead of protection/investment side of the policy will be mix 50% managed fund then 50% Equity)
3. Still invest in MF but the top up monthly will be doubled.
*married ones wil have hard time coping with this due to high possible expenses but case to case basis unless you are earning well then no problem at all.

Let's jump to Late 30's like me *smiles to Early 40's:
1. Diversify your investment portfolios if you already have (MF, UITF, Insurance (more on Protection assuming all are married so that your dependents will no longer worry if you'll pass away), and any other conservative investment vehicles.)
2. Try starting a business which is inline to your interest.
3. Start investing for your retirement.

Note: Above statement is only applicable to some and each financial situation is a great factor for better financial planning. If you need assistance just PM me.

nice bro.... Hmmm nindut ni dah... sugdan tani

[quirkychinita]

Tawn akong kwarta mahurot kay ga support sako amang maysakit ug gamayng tabang sako inang mapagmahal.

But I can still manage. Sauna wala pay sakit ako amahan, I have earned a lot pero nahatag pud nako nia when he got so sick...

Wa ko nagmahay kay he's my dad.

For now budgetting ra akong style. Every payday I segregate my money for each bill. And leave some for myself.

I dont necessarily want to be rich but I just want to make sure na in the future, my own family wont starve. bahalag ako'y magutman, ayaw ra akong loved ones!