My father-in-law was a veteran cyclist. He was an active racer in various competitions such as the Marlboro Tour in the 80’s. An and although he did not win any of those races, he’s always won the love of his family.
There was just one problem when my wife and I decided to invest our income in the stock market. He was not that supportive with the idea and our decision to invest. The reason was because he has heard a lot of stories of people losing money in the stock market. Continue reading A Cyclist’s Investing Tale: From P2,500 to P400,000
A couple of days ago, a forum member based in Jeddah, Saudi Arabia forwarded me via email his application forms for his first stock investment account with COL Financial so that I could help him in reviewing the completeness and accuracy of data that he wrote down. I have been doing this for the past several months in order to assist OFW’s comply with the requirements of COL before sending the actual documents to their office by courier.
What struck me most was his determination to complete everything despite his limited resources and time to go to a computer shop in order to have his documents printed and scanned. Unfortunately, this is the 3rd time (and the 3rd month since he first submitted the draft forms) that I asked him to revise and complete the information in his application.
When I told him to provide a copy of his proof of billing address or a bank statement, he said he does not have a bank account in Saudi Arabia. He just opened a bank account with BPI recently which I also advised him to do by visiting an affiliate Saudi bank in Jeddah.
And then I asked him if there is a way for him to secure a copy of an electricity or water bill from his family in the Philippines, he said, Continue reading An OFW Determined To Rise From Poverty
My mother used to work as a clerk for a Chinese businessman in Binondo back in the early 70’s when she was still single. But she decided to stop working when she met my father until they got married in 1975. Given the very short time that she spent for working, she did not get to contribute that much for her Social Security.
Fast forward to 2012, my mother asked me if she could continue to contribute to SSS so that she could receive the pension when she reaches her retirement age. After giving her a computation on how much (little) she could get from SSS, I convinced her that she should not rely her retirement years from SSS alone.
In fact I told her that it would be better to allocate a portion of the money I’m giving her on a monthly basis and the profit she is getting from her small business of made-to-order delicacies to invest in the stock market.
And so she did in December 2012. Continue reading My Mom’s Investing in the Stock Market