Author Topic: What are you investing/saving for? (Read 16348 times)

micro27 · « **Reply #90 on:** Mar 14, 2008, 08:51 PM »

nakaka inspire nmn po dreams nyo sir photog...

photog · « **Reply #91 on:** Mar 14, 2008, 11:08 PM »

Hi micro27 thanks for your kind words.

You know it didn't start out that way. When I was younger all I wanted was to earn lots and lots of money lang. No targets, no savings, just earn and earn. When I was able to accumulate a fair amount of money, medyo naging magastos ako bili dito, bili dun so naubos din yung pera. When I got married, ayun break even lang kami ng wife ko.

For a long time we lived an ok life- ate 3 meals a day and paid for monthly bills pero wala kaming savings. And then 1 day I got a hold of this book "The Millionaire Next Door" which made me think na dapat pala masinop sa pera and hindi dapat bili ng bili ng bago. So that's what my wife and i did.

Medyo madaming sacrifice and madami din kaming nadaanan ni mrs and madami din kaming pinasok na negosyo before we arrived at where we are now. I lost a fair amount of money this year, wrong investment, pero that won't stop me from looking for other opportunities. Originally my target was to retire when I'm 40 years old. Ok na sana kaya lang humirit pa ko this last time ng medyo risky kaya ayun, nawala pa tuloy yung pera. Nakakapanghinayang talaga kaya lang there's no use crying over spilled milk. The sooner we get over it, pick up the pieces, learn the lesson and move on, the better off we will be.

We should all dream big. Our financial targets should be specific and workable para hindi tayo ma discourage. We should also be surrounded by like-minded people to pull us through especially during difficult times. That's why it's good that we're all in this site, to share our financial experiences.

micro27 · « **Reply #92 on:** Mar 14, 2008, 11:33 PM »

If you don't mind po sir, can you share what investment and businesses you are venturing now? "Millionaire Next Door" is Robert Allen's book, is it?

CondoInvestor · « **Reply #93 on:** Mar 14, 2008, 11:46 PM »

photog · « **Reply #94 on:** Mar 15, 2008, 01:15 AM »

Yup tama si CondoInvestor sa author ng Millionaire Next Door. May follow-up book din yun title is The Millionaire Mind although I wasn't able to read that book.

Dami ko na naging negosyo, some are good yung iba wala na ngayon. I partnered in a retail business before which closed shop kasi yung managing partner left the company and the other partners were too busy to handle the business. Nakisosyo din ako sa isang media outfit na up to now we're still waiting for additional funds for the project to push through. May communications company din ako na nag partner ako pero laking nawalang pera this year kaya we're still figuring out kung pano babawi. Dami na din nawala sakin pero as I say nga tuition fee ko yun for business. I lost money but I learned a lot of things and these things I learned are what I practice now in my businesses and investments.

Currently I have a logistics/service firm which I started year 2000. May personnel firm din ako na mukhang promising kulang lang sa capitalization. I also have a food franchise in SM Sucat na ok din ang takbo. I'm still looking for other opportunities kasi sa panahon ngayon maganda yung madami kang options.

As to monetary placements I have a mix of UITFs and TDs. Medyo malungkot yung UITFs ngayon kasi nga mababa yung rate so waiting ako bumawi yung market. Yung balanced fund is ok, yung equities medyo kelangan pa bumawi.

What I'm doing right now is trying to find the right mix of what I have so I can meet my targets.

CondoInvestor · « **Reply #95 on:** Mar 15, 2008, 03:26 AM »

richpulubi · « **Reply #96 on:** Mar 15, 2008, 01:16 PM »

Quote from: photog on Mar 15, 2008, 01:15 AM

Yup tama si CondoInvestor sa author ng Millionaire Next Door. May follow-up book din yun title is The Millionaire Mind although I wasn't able to read that book.

Dami ko na naging negosyo, some are good yung iba wala na ngayon. I partnered in a retail business before which closed shop kasi yung managing partner left the company and the other partners were too busy to handle the business. Nakisosyo din ako sa isang media outfit na up to now we're still waiting for additional funds for the project to push through. May communications company din ako na nag partner ako pero laking nawalang pera this year kaya we're still figuring out kung pano babawi. Dami na din nawala sakin pero as I say nga tuition fee ko yun for business. I lost money but I learned a lot of things and these things I learned are what I practice now in my businesses and investments.

Currently I have a logistics/service firm which I started year 2000. May personnel firm din ako na mukhang promising kulang lang sa capitalization. I also have a food franchise in SM Sucat na ok din ang takbo. I'm still looking for other opportunities kasi sa panahon ngayon maganda yung madami kang options.

As to monetary placements I have a mix of UITFs and TDs. Medyo malungkot yung UITFs ngayon kasi nga mababa yung rate so waiting ako bumawi yung market. Yung balanced fund is ok, yung equities medyo kelangan pa bumawi.

What I'm doing right now is trying to find the right mix of what I have so I can meet my targets.

photog,
I like your story cuz I see myself in you. I admire that your set backs did not deter you from trying again.
FYI, I am 42 now, and am fairly comfortable with were I am financially. But you see, if I were to stop all my business activities, there really isn't much else to do in my life. Hindi naman kami mahilig mag-shopping at travel!

Anyway, i hope you don't mind my mentioning, but it seems most, if not all, your existing businesses are lacking in capital. Some haven't really taken off cuz of lack of capital. So, why are you looking for other businesses pa? Why not just fund your existing endeavors, so that they will suceed? Somehow, do you doubt they will suceed?

In business, you have to be ruthless. I had a business with one single employee and P5K rent a month that makes me about P70K net a month. I killed it, cuz I know it will die eventually in about a year. And it was such a hassle watching over.

So you may benefit more if you focus more in the few things that are going well, and that you enjoy doing.

Just my two cents.

photog · « **Reply #97 on:** Mar 15, 2008, 02:14 PM »

Hi richpulubi, thanks for your reply and your insights. I'm 39 years old so we're "batchmates."

If I didn't play risky the last time, I could have retired next year which was my original target. Yun nga lang wrong investment so have to build up for my targets again.

The only businesses that I have that are solely mine are the logitics/service firm and the food franchise. These are healthy businesses with good cashflow and are, for all intents and purposes, automated already. That is why I have the time to look at other options.

With regards to the other businesses, I'm part owner with 10% to 25% exposure. As much as i want to infuse capital in these companies, laki masyado ng requirement mauubos ako agad. Maganda nung start kasi itong mga negosyo na ito, problem was the expected capital didn't come in so medyo nabitin. That's the part we're still figuring out.

I agree with cutting branches that don't grow good fruit. I once had a trucking fleet to support my logistics firm. Ok naman sya kaya lang the hassle of maintaining a business na maraming gimmick mga driver and may potential pa for physical liability (bangga, accidents, etc.) wasn't my cup of tea so I sold my trucks agad. Financially ok sya pero hindi sulit sa stress na makukuha mo. Dumami agad puti na buhok ko during that time. I've seen other people who became very successful with the land transport industry but it's not for me.

richpulubi · « **Reply #98 on:** Mar 15, 2008, 11:16 PM »

Oh...forgive me for overstepping and misconcluding. We are in the same boat, meaning, I am looking for investments that can practically run on auto-pilot. Which is difficult for me, cuz i'm a control freak. Also, this nature of mine has prevented me from joining partnerships or coops. In my mind, too many cooks spoil the broth.

I hope you don't mind my asking, but what is a 'logistics firm?'

juleslipic · « **Reply #99 on:** Mar 17, 2008, 09:56 PM »

I'm saving to put up another business or venture into real estate/renting/rent to own to give me multiple streams of passive income (paturo ako kay sir CI hehe!). My pinasa na business ang parents ko but I don't see myself doing it forever kasi kailangan nakatutok ka lagi sa business na parang di pwedeng iwan mo lang and its open 7 days a week.

Kagaya ninyo, I'm hoping to have a business that runs on auto-pilot. I'm willing to have partners in business din as long as nagkakaintindihan kami and is/are trustworthy.

CondoInvestor · « **Reply #100 on:** Mar 18, 2008, 12:44 AM »

tops5450 · « **Reply #101 on:** Mar 18, 2008, 08:52 AM »

Sa akin naman is for the future. Ika nga ni colayco, savings is an expenses that buys your future. Kaya ito trying hard-copy-cat sa inyo guys. I have spent my 30 damn years of my life living in poverty ( iyong tipong isang kahig, isang tuka ba). I was so lucky to came across in this forum and meet like minded people like you with a big heart to share.

I just came to realize that I need to get up from my very long slumber before its too late. That is why I am risking my neck here in abroad to at least have a capital build up for a start-up phase. I think I am still on the long road to financial freedom and marami pang kakaining bigas regarding on investment experiences but I believed with the help of you guys and with God. I am on the right track.

CondoInvestor · « **Reply #102 on:** Mar 18, 2008, 10:22 AM »

You're really indeed in the right track tops5450,

Few people realize that they really need to save for their future.
Most Filipinos care only for the present and have the mentality of enjoy now, pay later.
Most of Pinoys are spenders unlike the Chinese who lives with us, they invest not only for their retirement butin-advance for their future generations.

A great example is Henry Sy, before he visualize the Mall of Asia, he step by step surpass the biggest trials at the early stage of his life. I remember when i was a kid, there's a rally/boycott call here in SM-Makati(SM-3rd Branch), i can never imagine how Henry stood on his ground with strond dedication that its still not the worse, its only a hump in the road, after that, there's a smooth path ahead. What's the source of his dedication?

His love for his family. He wants them to reap the rewards not only the business itself but the management as well. Now all his sons and daughters are involved in decision making. In all his banks(BDO,Equitable, ChinaBank) All SM Malls(38 malls more or less),etc.

Let's follow the positive side in him.

tops5450 · « **Reply #103 on:** Mar 18, 2008, 01:03 PM »

@condoinvestor

I am counting on you bossing. Cheers to our long and lasting partnership. May God continue to bless us.

vladrillo · « **Reply #104 on:** Mar 18, 2008, 02:51 PM »

I am all inspired.. Me I invested in insurances and education for my kids, I'm saving also to start a food cart franchise. Thanks for sharing.. and dami ko natutunan sa inyo.