PinoyMoneyTalk.com

PMT Forum member bullet asks the men: Does it bother you if your wife makes more money than you?

Here are some replies taken from that discussion thread.

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In a society such as the Philippines that highly values the family, dole-outs to parents and, sometimes, to siblings and relatives, are an accepted — nay, expected — ingredient of the relationship.

Children who are earning are, to a certain point, obligated to provide financial support to parents. In most cases, the handout of financial support continues for the rest of the parents' lives.

If the person eventually found financial comfort ("nakaluwag-luwag na," as we say), the assistance sometimes extends even to siblings or relatives  — uncle, aunt, cousin, niece, nephew, even the malayong kamag-anak, you name it.

The practice has its share of both supporters and critics. On the one hand, a dole-out is viewed as merely "sharing one's blessings" or "paying it forward." On the other, it is seen as a crippling form of aid. 

What then separates the line between being charitable and tolerating mendicancy?

Here are a few opinions from some Pinoy Money Talk members. Add your thoughts in the "Dealing with Dependents" discussion thread.

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An interesting question was posted in the Inquirer's "Take Charge of your Money" series:

I'm single, in my late 20s, and have a stable job. I want to pursue an MBA, buy a car and maybe a condominium unit, and have enough for my retirement. But with my salary (I earn only P20,000 a month), I don't know how I can set aside money for all these. What more if I get married. Any advice? – Gerard M.

The advice given was a bit generic (define your goals, set a time frame to achieve them, invest your money, etc.) but then again, the column was meant to be read by everyone and not just by the person who sent the question. In order for the advice to be really worthwhile, it has to be specific to the individual asking the question.

In any case, if I had a similar problem, here's what I'm gonna do.

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The richer you get, they say, the more money you have and the more expenses you make.

And yet, there are rich and wealthy Filipino families who seem to scrimp and save on every possible opportunity.

Or do they, really?

A few PMT members are saying that although these rich Filipinos appear to be scrimping, they, on the other hand, lavish on other extravagances, such as cars, jewelries, luxury vacations, and the like.

Do you agree? Or don't care at all?

Join the discussion in the Lifestyles of the Rich and Wealthy thread in the PMT Forum.

An investment planner is like a fund manager who helps clients manage their money. The investment planner picks where to invest the money, identifies the risks involved, informs clients of the nature of the market and eventually helps grow clients’ money.

“I think that we usually have the misconception that what makes the rich wealthy is the money that they earn,” says Carissa J. Patag, a certified securities representative, licensed debt instrument trader and licensed mutual fund agent who have been working in the financial industry for 11 years now. “But, in truth, what makes a person rich is actually his ability to save the money that he has earned, grow the money and convert it into a continuous or recurring stream of income.”

This is where the investment planner comes in. The planner, according to Ms. Patag, helps clients convert their earned income into passive and portfolio income (collectively known as investments) to provide cash flow.
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With the Philippine Peso continuing to gain against the dollar, Overseas Filipino Workers (OFWs) seem to be at a disadvantage because their dollar earnings now are worth less than before. The question, then: What can an OFW do to cushion the effect of a decreasing dollar rate on the income of his family?

The response from Citibank after the jump.

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Do you spend all of your monthly salary/allowance or do you save a part of it? Tell us by posting in the "How much of your monthly salary/allowance do you save?" thread in the forum.

Replies of some PMT members after the jump.

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Ah, here again is that perennial question, "Where is the best place to put my money?"

We already have a lot of articles like this before (just scroll down to see other Related Posts), but people seems to have that insatiable thirst for the ultra-mega-super-cool-best way to invest their money.

Fret not, we have another article to fill you up. It gives you a comparative pros and cons analysis of various traditional investment products.

Read it after the jump.

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If you had P20 million (US$400,000), how would your investment portfolio look like?

Real estate - 40%; Equity mutual funds - 30%; Bonds mutual funds - 20%; Savings - 10%? Have some other ideas?

Pinoy Money Talk (PMT) member tacamonchi wants to know them, so join the discussion in the forum thread "If you had 20 million pesos, how would your investment portfolio look like?"

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What do you think of someone who has already saved a million pesos by the age of 30?

Would you consider that a feat? Or is it normal? Is P1-million a big amount of money, or is it just something you can earn after working for a year?

Join the discussion in the forum thread “Malaki na ba ang makaipon ng P1M by age 30?“

Views from some PinoyMoneyTalk members after the jump.

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