#Wiser2016: On Having a Retirement Fund

Wednesday, May 04, 2016 , , ,


Since I claim a #Wiser2016, I’m sharing with y’all how I’m doing it. For now, I’ll share the financial aspect of my #Wiser2016. The rest, I’ll blog later.

Anyway, handling financial stuff is really not my forte. The crown belongs to my bestfriend Jerellt. She’s my ultimate peg. She had savings even before getting married. She owns a house now and 2 cars – 1 old and 1 brand new. Aside from that, she and her husband was able to shoulder all the financial burden of their 4-year battle with infertility. And most of all, she and her husband did it without bothering their parents. Actually, sila pa ang tumutulong sa parents nila. Which is dapat naman talaga. Once you become an adult, you do not bother your parents with financial stuff anymore. Well, at least me and my bestfriend agree on that. And I hope to instill the same values to my child.

While I could say that I was never the waldas type, I never lived beyond my means, but I can’t really say that I am great with my finances. Well, maybe because for the longest time, I’m the breadwinner of the family. I had to help my parents send my siblings to school. I had to help with the medical expenses of my special child brother. I had to pay the house bills. And I also spoil my family once in a while. Can’t help it. I know my parents deserve it.

But things had to change when I had the #FabSkye. Coz first and foremost, God entrusted me that child to care for. And so I had to do everything in my power to really make sure that she’s okay. That I could provide for her.

I did a lot of stuff to secure her future. Which I’ll share on my future posts. But there’s one thing I did for myself that I’m sure would also affect her in the future – I set up a retirement fund. I just wished I did it earlier. Sana mas madami akong pera ngayon. But hindi pa naman huli ang lahat

As I’ve said, I still provide for my family. I grew up from a poor family. And it was engraved on my mind and heart that I should take care of them. Actually lumaki ako sakelangan mong makatapos para makatulong ka na sa amin”. And since I’m the eldest, the burden of providing for my family was passed on my shoulder the moment I got my diploma. Well, don’t get me wrong. Di naman nag resign ang Tatay ko at humilata sa bahay the moment I graduated. Actually, until now he is still working. But I do not force him to work as much as he used to. And I shoulder almost every household expenses coz I am sure my parents can’t handle it anymore. Plus as I’ve said, I spoil them. I know that they did everything just to make sure I finish college. They sacrificed a lot. And so I want them to have a little fun and enjoy.

But I don’t want my daughter to have that burden (I say it’s a burden because sometimes it feels like that, but honestly, deep inside, I love providing for my family). I want her to do things she loves without thinking of me. I want her to enjoy her life.

And at the same time, I want to enjoy my retirement. I want to have my own money. Ayoko umasa sa anak ko. I want to save something for my future, not just my child’s future. Actually, yun ang usual na nakikita kong mali with parents these days. They would save and save for their kids. Educational fund. Savings. Etc. But they forgot that one day, someday they’d grow old too. And they have to secure their future as much as they secure their child’s.

So what did I do? I got a Sunlife VUL Plan.

It’s an insurance and investment plan. So I was insured and at the same time, I do have an investment. My trusted financial adviser got me this awesome plan by computing how much I need for my retirement and prioritizing the important aspects of my insurance. Basically, I am insured for known sickness. I could get something if I got hospitalized for more than 3 days and I could leave something for my child when something bad happened to me. At least I could be at ease. My Sunlife Plan made sure that whatever happens to me, my daughter's future is secured. And I'd have something for myself too.

We also have a retirement fund here at work. My employers save 6% of my monthly salary to an investment fund that I could get in full if I render 20yrs of service. That’s one of the reasons why I love working in this company. They make sure that we get something. I also have an insurance here at work. And our insurance is one of the best.

So maybe you are wondering why I got another one? Well, it’s because those insurance and investment are provided to me by my employer. What if mag-resign ako? I want a personal one. Para sure ako. And besides, mas masaya pag madaming insurance and investment.

Honestly, I really encourage parents to do it as well. Set up a retirement fund for you. Actually, we are planning to get one for the ReigningTatay too. Syempre magka-iba kami ng retirement fund no! Kanya kanyang pera to. Hahahahaha!

While it is important to save for your child’s future, do not forget that you need to have something for yourself too. Do not be a burden to your children. Plus, you can use the fund to travel! Oh diba?! When I’m 60, I will use a part of my money to go to Europe!!! Hahahaha! And yes, my Europe tour is included on our calculations. So I am very sure I’d have enough money to cover for that. Yay!

I could actually outline my VUL Plan but I honestly think, each person has her/his own priorities. So I think it is important that you talk to an expert financial adviser. If you need help or is interested, you could IM me on my social media accounts or email me at reigne@celerhinaaubrey.com so I could help set you an appointment with my financial adviser. She could help you decide what to get. Depending on your needs and of course, budget.

I am very happy that one by one, I am slowly doing things right. Help me achieve this #Wiser2016! Next, I'll share with you the stuff I did to secure my child's future naman.

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