I'm Ready to be Rich

I never wanted to be rich! Never! You can ask my wife about it and she'd surely validate my claim.

Don't Save Your Money in Banks

That's the most significant learning I got from reading Bo Sanchez's books. No, he is not totally against saving our money in a bank. In fact, he advises all of us to put 3-6 months of our salary in a bank for emergency purposes. Other than that, the rest of our disposable money should not be parked in a bank. Why? Because we will not get the maximum gain if we do so. Not even the time deposit will grow our money exponentially. Even an 8% per annum (this, I think, is the highest rate being offered by one of the biggest rural banks in the country) is nothing if there are other charges that will be deducted once a time deposit has matured.

Risk Appetite

I am amazed at how I have outgrown my fear for losing money over failed investments. The first time I went into business and failed, I became averse to risk that I stopped going into another business and put my money instead in banks. For quite sometime I have been lodging my money in savings accounts that earn a very minimal interest. I did not even bother think of having it deposited instead in a time deposit to give me a higher yield. I was content that my savings are safe in the banks.

MF and UITF Advocate

Ever since I became aware of and actually invested in mutual funds (MFs) and unit investment trust funds (UITFs), I have voluntarily designated myself as its advocate, sharing my knowledge about it and trying to influence others to try investing in it, too. Whenever I get the chance to discuss it with people around me, I always grab that opportunity to do so. And I feel happy when people become interested in investing their extra money in either MFs or UITFs. My immediate previous entry differentiates the two.

Do You Know Where to Invest Your Money?

I'm into investments nowadays. Lately, I have been investing in mutual funds (MFs) and unit investment trust funds (UITFs). Basically, both are forms of collective investment schemes that pool money from different investors and invest it in stocks, bonds, short-term money market instruments, and/or other securities. There ends their similarity. As to their differences, I took the liberty of reposting the comprehensive explanation found at a financial blogsite (www.pinoymoneytalk.com), which I have been avidly following.