Author Topic: How Old Are You and How Much Is Your Net Worth  (Read 35583 times)

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katkatmachine

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #165 on: Sep 15, 2016, 05:51 PM »
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I am in my 40s and my net-worth is over $1 million USD. I've been following the posts here, but unfortunately I don't feel that I am in any position to contribute. I do feel that achieving my net-worth wasn't remarkable at all.
Had I been in the Philippines working, then yes, I'd be very proud of it. Having worked in the US in high paying jobs saving 7 figures seems almost inevitable. You're allowed to get a low interest mortgage so you can buy a house you normally wouldn't be able to afford; there are saving vehicles like a 401k, IRA, etc--and all of these things are tax deductible and very effortless.

I'm wondering if anyone else here made their money abroad and feel like a fraud? To me, someone who saves 10 million pesos while working in the Philippines is more deserving of praise, is a more diligent saver, more investment savvy, etc than a white-collar professional who saved $1 million USD while working in California, New York, etc.

Just my thoughts

Thanks for this sir eboy! i kinda felt proud of myself after reading your post. hehehe. if you're here in pinas and not financially literate enough, i mean if you don't have investments, businesses and all and you just rely on your salary it's really difficult to earn even 1m. :( pero thankfully, i learned about savings and investments at an early age, 23 ako nun. before, in my 1st job (i was only 21 at that time), i spent all my salary in unimportant stuff like clothes, party, alak, yosi (bisyo girl pa ako nun)  :hihi: tapos i resigned then i realized after all the hard work that i did in my previous company i was only able to save 20,000 pesos (actually, backpay ko pa yun.  :hihi: ).

then, lumipat ako work, that's when i started saving na talaga, my partner who's an OFW encouraged me to invest in mutual funds, then stocks. since we're not that familiar with stocks pa we just subscribed to Bo's TRC. tapos ayun na, i self-studied, got myself a mentor in trading and finally unsubscribed to TRC.  :applause: nag-unsubscribe kami kasi i realized that for me to grow as a trader i need to do this on my own, without anyone's guidance. i just trusted my instintcs and applied what i learned from my mentor.

now after 3 years, (26 na ako  :D ) my net worth is around 2M (pero in pesos pa lang! :hihi: ). please note that my monthly salary is only 36K pesos per month GROSS. wahahahahahaha. thanks to DD, SMPH, MEG and a lot of basura stocks that i traded i was able to grow my money. :)

my next target is to reach my first 5M (pesos  :hihi: ) before i turn 30.

wish me luck mga sir!

happy investing!  :thankyou:

MSolve1

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #166 on: Sep 17, 2016, 09:22 PM »
I am in my 40s and my net-worth is over $1 million USD. I've been following the posts here, but unfortunately I don't feel that I am in any position to contribute. I do feel that achieving my net-worth wasn't remarkable at all.
Had I been in the Philippines working, then yes, I'd be very proud of it. Having worked in the US in high paying jobs saving 7 figures seems almost inevitable. You're allowed to get a low interest mortgage so you can buy a house you normally wouldn't be able to afford; there are saving vehicles like a 401k, IRA, etc--and all of these things are tax deductible and very effortless.

I'm wondering if anyone else here made their money abroad and feel like a fraud? To me, someone who saves 10 million pesos while working in the Philippines is more deserving of praise, is a more diligent saver, more investment savvy, etc than a white-collar professional who saved $1 million USD while working in California, New York, etc.

Just my thoughts

You should be proud of your accomplishments, especially when you're living in an expensive city. Only 1 out of 11 households achieve millionaire status. I do agree with you that someone who saved-up 10 million pesos in the Philippines is more deserving of praise. This is exactly why I admire my late mother very much; her estate was worth 20 million pesos (of which 25% was liquid) when she died. She was so frugal, I've seen her use a hammer to get the last drop from her toothpaste. I grew up thinking that we were lower middle class.

jenofstructures

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #167 on: Sep 23, 2016, 10:41 AM »
I'm outta work, and checking my net worth, I'm in luck to increase ours by 70% from last year..... yehey!

Sana di mabawasan ng husto bago ako makahanap ng panibago  :hihi: :hihi: :hihi: :hihi:
fear not the man who has practiced 10,000 kicks once, but fear a man who has practiced one kick 10,000 times

dragonknight

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #168 on: Sep 23, 2016, 11:06 AM »
hi ms jen wow 70% galing nyo naman humawak nang pera nang asawa po ninyo siguro nagtutulungan po kayo sa pagmamanage nang money.

Thomas

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #169 on: Sep 23, 2016, 02:43 PM »
I'm outta work, and checking my net worth, I'm in luck to increase ours by 70% from last year..... yehey!

Sana di mabawasan ng husto bago ako makahanap ng panibago  :hihi: :hihi: :hihi: :hihi:
That's very good!

Then you don't need a work - other than handle you investments    :)
(The richest of my friends - beside a litle teaching many years ago - haven't done anything else since he examed from College as a top student. He started with a rather small own capital plus borrowed to get biger effects of his investments.)

jenofstructures

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #170 on: Sep 26, 2016, 07:36 AM »
hi ms jen wow 70% galing nyo naman humawak nang pera nang asawa po ninyo siguro nagtutulungan po kayo sa pagmamanage nang money.

Salamat! buti na nga lang nakaipon pa sa dami ng gastos

Actually, ako ang manager ng pera. Sya bigay lang sa akin. Buti na lang may tiwala sa akin asawa ko at walang bisyo.
fear not the man who has practiced 10,000 kicks once, but fear a man who has practiced one kick 10,000 times

TulogSaPancitan

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #171 on: Sep 26, 2016, 11:31 AM »
I'm outta work, and checking my net worth, I'm in luck to increase ours by 70% from last year..... yehey!

Sana di mabawasan ng husto bago ako makahanap ng panibago  :hihi: :hihi: :hihi: :hihi:

wow.  :applause:
never underestimate the power of stupidity

LifeJiggy

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #172 on: May 18, 2017, 09:33 PM »
Just found my old post here last 2015 when I was still 24 and had 450k net worth. I am happy to say that I've finally reached the 1M mark at age 26! :D I wanted to achieve this at 25 y.o., but still, not bad. Unti-unti nang nagbunga ang pagiging kuripot ko at pag-si-save and invest. Whew. Thank you, Lord! Thank you, Universe!

Age: 26 (single)
Source of Income: Programmer / Stocks Trader
Monthly Savings: approx. 34k
Net Worth: 1M (finally! Sorry if I sound like I'm bragging, but I'm just happy to crash this off my goals list. Off to my next goal na :))
Assets: stocks
Liabilities: credit card debt (but I pay in full every month, so does this count?) and real estate lot that I bought for personal use
« Last Edit: May 18, 2017, 09:36 PM by LifeJiggy »

SiPoorMan

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #173 on: May 19, 2017, 12:10 AM »
congrats Sir Jiggy!

Just found my old post here last 2015 when I was still 24 and had 450k net worth. I am happy to say that I've finally reached the 1M mark at age 26! :D I wanted to achieve this at 25 y.o., but still, not bad. Unti-unti nang nagbunga ang pagiging kuripot ko at pag-si-save and invest. Whew. Thank you, Lord! Thank you, Universe!

Age: 26 (single)
Source of Income: Programmer / Stocks Trader
Monthly Savings: approx. 34k
Net Worth: 1M (finally! Sorry if I sound like I'm bragging, but I'm just happy to crash this off my goals list. Off to my next goal na :))
Assets: stocks
Liabilities: credit card debt (but I pay in full every month, so does this count?) and real estate lot that I bought for personal use
You may say I'm a dreamer, but I'm not the only one

aquinoelliot91

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #174 on: Jun 22, 2017, 12:50 PM »
I'm 19 turning 20 this year, I'm working online so my net worth depends on the project given to me

TulogSaPancitan

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #175 on: Jun 22, 2017, 02:26 PM »
Just found my old post here last 2015 when I was still 24 and had 450k net worth. I am happy to say that I've finally reached the 1M mark at age 26! :D I wanted to achieve this at 25 y.o., but still, not bad. Unti-unti nang nagbunga ang pagiging kuripot ko at pag-si-save and invest. Whew. Thank you, Lord! Thank you, Universe!

Age: 26 (single)
Source of Income: Programmer / Stocks Trader
Monthly Savings: approx. 34k
Net Worth: 1M (finally! Sorry if I sound like I'm bragging, but I'm just happy to crash this off my goals list. Off to my next goal na :))
Assets: stocks
Liabilities: credit card debt (but I pay in full every month, so does this count?) and real estate lot that I bought for personal use

wow. grats.
never underestimate the power of stupidity

jenofstructures

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #176 on: Jun 23, 2017, 08:11 AM »
wow @ 26 years of age!!!! congrats Lifejiggy
fear not the man who has practiced 10,000 kicks once, but fear a man who has practiced one kick 10,000 times

apingdaldal

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #177 on: Aug 06, 2017, 02:43 PM »
update

Age: 36 (married)

Sources of Income:  Salary as an OFW Telecom Engineer (Dubai), rent, passive income (AFPSLAI)

Monthly Savings: around 75K (55K to 60K monthly remittance to my savings account in the Phils. 13K montly from AFPSLAI,  5K from rent)   

total Assets: approx. Php 6.98M
 - Php 3.5M properties
 - Php 2.6M bank savings
 - Php 850K stocks
 - Php 30K online investment

Total Liabilities: Php 1.726M
 - Php 800K remaining housing loan from PAG-IBIG
 - Php 546K remaining car loan (in Dubai)
 - Php 380K remaining personal loan (in Dubai)
 
Approx. Net worth (Assets minus Liabilities) = Php 5.25M

2016 so far has been very challenging for me.  First is my car here in Dubai was totaled by a flash flood.   I was still able to 50% of the value of that car from the insurance company.  But still, I need to buy a new car again hence a new car loan.  The Oil and Gas industry is still in a slump and has affect almost all the companies in Gulf region.  My wife got retrenched from her company because of this recession caused by the Oil price decline. To make it worst, my wife was diagnosed with hyperthyroidism which requires her to do only little physical activity and instead requires her to have lots of rest. In short, she is unfit to work.  So yeah "tiis-tiis" mode kasi ako lang yung kumikita samin.   

Looking on the bright side, sa wakas nasa smartphone age na rin.  My 7-yr old Blackberry got drowned together with my previous car so no choice but to buy a new phone.  And hoping that 2017 will be a better year.




update

Age: 37 (married)

Sources of Income:  Salary as an OFW Telecom Engineer (Dubai), rent, passive income (AFPSLAI)

Monthly Savings: around 80K (60K to 65K monthly remittance to my savings account in the Phils. 13K monthly from AFPSLAI,  5K from rent)   

total Assets: approx. Php 7.408M
 - Php 3.5M properties
 - Php 2.8M bank savings
 - Php 1.024M stocks
 - Php 84K online investment

Total Liabilities: Php 1.070M
 - Php 590K remaining housing loan from PAG-IBIG
 - Php 408K remaining car loan (in Dubai)
 
Approx. Net worth (Assets minus Liabilities) = Php 6.338M

It's Mid-2017; and so far it's ok.  Able to pay off that personal loan so it's 1 less thorn plucked out on my foot.  As usual, the Oil and Gas industry is still in a slump although it's somehow surviving.  Finally had my wife's thyroid treated (in the Philippines as I don't trust any hospital/doctors here in UAE).  She also got a job after 7-months and luckily her new work is just 5 mins drive from our flat. Her modest salary is just enough to pay for the rent but at least it helps.  My savings didn't increased significantly though.  Mejo napagastos kasi sa travel (which I rarely do) when I went for my annual leave last June 2017, plus the radiation treatment of my wife and the "bigay" to my parents and my biyenan. 

I'm turning 38 soon, with no kids yet.  (Late na kasi ako nag-asawa eh) My wife's endocrinologist did informed us she will be radiation-free after 6 months and will be safe to bear a child.  I reckon that 2018 will be both a challenging and interesting. 


======

Salamat ng pala kay EDC.  After holding you 3 years, finally mapapakawalan na rin kita.   :D

Kay TEL at BEL naman, mukhang matagal-tagal pa tayong magkakasama hehehe  :scratch:









TulogSaPancitan

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #178 on: Aug 06, 2017, 04:10 PM »
^ good job man. glad to hear that even with the o&g slump u managed to come out positive.

never underestimate the power of stupidity

apingdaldal

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Re: How Old Are You and How Much Is Your Net Worth
« Reply #179 on: Aug 06, 2017, 04:42 PM »
Salamat Sir TSP o7

 


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