SSS retirement benefit – Rock To Riches

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

My grandfather died when I just entered my first year in college. That was a year after he persuaded me to take the scholarship exams entitled to all residents and high school graduates of my mother’s hometown in Pampanga. He was very patient that he even accompanied me throughout the application process. He even waited outside the examination venue until I finished.

The reason? I didn’t know much about the Kapampangan dialect except for “mekeni”, “nanung lagyu mu?”, “ebun”, “masanting”, “maragul”, “manyaman”, and…never mind. 😛 He had to be there for me to be my translator. To speak the dialect was supposed to be a proof that I am a legitimate half-Kapampangan. A requirement to become eligible for the scholarship. But technically and biologically-speaking, I’m a Batangpangan (Batangueño–Kapampangan) born in Manila.

To cut the story short, I passed the scholarship exam and went on to finish college with top honors. I placed 46th…among 55 students. 😛 And I owed everything both to my parents and to my departed grandfather for believing that I could get the scholarship and finish it. Continue reading Should You Rely Your Retirement on SSS/GSIS Pension Alone?