The Philippine stock market index has rallied to a new all-time high today, rising by 24.78 points to close at 6,192.42. (6,377.75 as of October 9, 2013) – [UPDATE: The index touched the 7,000 mark early this week and closed at 6,974 as of August 5, 2014]
This good news and those numbers mean almost nothing to you if you’re not yet investing in the Philippine stock market.
I have received quite a few good number of inquiries from my blog and through our forum sites and pages on how to open a stock trading account so that they can finally start investing or trading. Most of them are Filipinos working or living abroad (OFW’s and migrant Filipinos).
Out of 20 people who asked for help on how to start investing in the stock market in the past two months, only less than half (7 to be exact) have opened their stock trading accounts until now.
While these 7 people committed to achieve financial independence by buying shares of the best and biggest Philippine companies through stock market investing/trading, each of the other 13 have either:
1) Bought the latest smartphone model
2) Bought a brand new DSLR camera
3) Shopped for the mid-season/end-of-season sale at malls out of impulse
4) Been procrastinating
What is Procrastination?
The 13 folks who have not yet opened their stock trading accounts really wanted to invest in the stock market. They even have this favorite motto:
“I promise to stop procrastinating…starting tomorrow.”
But what does procrastination mean?
According to Wordnet, procrastination means “the act of procrastinating; putting off or delaying or defering an action to a later time.”
It’s quite puzzling though that some people can easily decide to buy the things that they don’t really need but could not decide to save and invest for their future.
Two months (more than a year since this was written) have passed and so many opportunities to grow money have been wasted.
Friend, if you’re reading this now (am I starting to sound like a network marketer?), don’t procrastinate in terms of growing your money.
Today is the best day to invest. Think about the future of your children. Think about your retirement years.
Don’t let your money lose its value by just keeping it in your bank account. Don’t let inflation eat up your savings.
While we’re making our money grow in our portfolio, you’re just watching.
Don’t postpone your opportunity to grow. Stop procrastinating.
Join the OFW UsapangPiso Facebook Group and Forum to learn how to plan your finances the right way and how to grow your money in various financial instruments and investment vehicles such as stocks, mutual funds, UITF’s, index funds, bonds, money market, real estate, and others.
P.S. 1. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at email@example.com if you have any questions. Click here to join!
P.S. 2. Randell Tiongson goes back to Dubai on March 29 for another no non sense personal finance learning series entitled “How To Become Dirham-Wiser and Peso-Wealthier”. Please get in touch with Cherry Murillo or Normie Pascua. For registration and payments details, go here.
P.S. 3. Do you want to learn how to earn more passive income through blogging? Attend our webinar/online seminar “Earning Through Blogging – A Crash Course on How To Build a Profitable Blog” on October 19, 2013, 3PM (Philippine time) with the Philippines’ top personal finance celebrity blogger Fitz Villafuerte of Ready To Be Rich blog. Click here for more details.
P.S. 3. Learn How To Earn Through Larry Gamboa’s Real Estate System. Real Estate Mentor Larry Gamboa is giving a Seminar on February 9, 2013 on how he buys foreclosed properties or properties from “motivated sellers” and turn them around into rental properties or quick sales. If you’re interested to learn his system, click here now!