Are you losing money during this economic downturn?
July 1, 2008
Gas prices are up, commodity prices are up, and stock markets are down. Millions of people around the world are losing money because of the global economic downturn. Are you one of them?
Here are a few PinoyMoneyTalk Forum members who have been hit by the crisis:
Hi. I’m new here. Found this site out of my desperation to find an answer regarding my dilemma on my variable life investment (AXA Life). Just saw this morning that am losing a lot. My investment of P200k is now down to somewhere P170k, it’s already more than a year old. I am not really adept about investment, my bank actually introduced it to me as an alternative to time deposit. Right now am thinking of redeeming and use the money to pay our remaining mortgage in our housing loan; that way we would be able to save some on mortgage interest, and somehow recover some of our losses. What do you think? Please help.
hi! i found this forum because of despair. I’ve invested in BDO Balanced Fund last Nov 2007. From the time I invested, bumagsak ang stock market/NAVPU. As of this time, i have a paper loss of more than 200K of my 800K investment. Tama ba na hintayin ko na lang na maka-recover ang market, since hindi ko pa naman kailangan ang pera? Need advice, please help.
This is the bearest year of Mutual Funds (MF). I am losing as well in my 3 MF’s namely Sunlife Balanced Fund, GSIS and Philam Bond Fund.
Just received our Statement of Account from Sunlife yesterday and we’ve had a paper loss of around 12% since October of last year. But we’re staying the course and hopefully it’ll make a turnaround in 2-3 years’ time.
No one knows when this economic slump will end. As the financial markets continue their freefall, more and more people are also losing money. If you are one of them, tell us your story. Post in the forum discussion thread Who is hurting during this downturn?