Saving and Investing 2019

Accumulating savings in the Philippines in this day and age is something that many dream about. Investing successfully is an even more difficult feat to achieve. There are many wrong notions about saving and investing that the Filipino mindset has. Many are not aware that there are several ways to save and invest that are affordable and yet still effective. It is the year 2019! What a time to be alive.

Smart investment and savings strategies for Filipinos

How can investment be affordable? Many think that one has to have millions in savings before they can invest in something. While it may be true if you want to buy your own Jollibee franchise. However, if you are not a multi-millionaire, there are many ways for the average joe to invest their money.

While there are many good investments to try, here are the top three that can provide returns and be good investment options for first-timers.

Investing in yourself.

Learning and acquiring a new skill is always a good way to spend your time, effort and money. Take up a second course or master’s degree that will help you advance in your field of expertise. This will strengthen your chances of getting a promotion and being a better asset to your company.

Life insurance investment.

Take out a life insurance policy will provide you with savings, retirement fund and also an investment. If you are not skilled in stocks and bonds investments, the experts that are in the life insurance company you choose will invest your money for you and make sure that your money will be well invested and you will be able to see some returns for your funds within five to ten years,

Stocks and bonds.

You can also invest in stocks and bonds yourself if you know how. There would be training and seminars available for you to learn how to trade. This is a skill that you can use in the long run to make good investments for yourself.

Why we need savings through life insurance

Emergencies.

Everyone needs money during emergencies. Having savings will make sure that you have money to spare during these times of crisis so that you will not have to borrow money just because there is an emergency. Savings will provide peace of mind when it comes to finances. Life insurance can provide this peace of mind to people because you can get cash benefits that can act as savings when you need them.

Medical expenses.

Life insurance will also solve the problem of medical expenses. An illness rider can be included in your life insurance policy to make sure that you have enough money in case medical issues arise for anyone in your family.

Education.

If you have children, they will need to get a full education at a quality school to be able to succeed in life. You can get cash benefits that can fund your children’s education in the future.

Retirement.

You will also need to prepare for your retirement as early as now, and having a life insurance policy can help you set money aside for this.

These are all the ways in how a life insurance policy can help you save and invest at the same time. While you are young and have enough money to pay for premiums, getting a life insurance policy is one of the most important investments that you can make.

The great thing about this type of investment is that you don’t need to be rich to do it. Later on, you may become rich because you made this decision. Your initial investment may come back to you tenfold, because of the investment side of your life insurance. Get insured and start your investment today!