Frugal Honey

Investing & Retirement

The Chairman’s Message + Webinar on Stock Trading

I received this year’s COL Financial Chairman’s Message and it began with this panama quotation:

“If investing is entertaining, if you’re having fun, you’re

probably not making any money. Good investing is boring.”

–George Soros

I must be doing something right then because my stock portfolio is the most boring thing on the planet right now. And that’s because I haven’t touched my portfolio in more than a year. Sadly, my stock investing has been downgraded in my financial priorities. Debt payment has taken the first spot and insurance premiums and the office cooperative have become my primary investments. But don’t you worry my dear stock portfolio, you’ll have my undivided attention soon enough.

 Alright, enough chatter, here’s the chairman!

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PERA, at last!

PhilippinePeso-slider

Who else is happy that the Personal Equity Retirement Account (PERA) law will finally be implemented?!

In a nutshell, the PERA is a voluntary retirement system where contributions are made by both employees and employers, kind of like the 401k in the United States. You get a tax credit of 5% of your PERA contributions and it is tax-exempt if you make withdrawals at the age of 55 and up. Here’s a nice primer for the PERA: http://business.inquirer.net/198300/all-about-pera

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On Shady Marketing Practices: Manila Bankers Life Insurance

I received a call from an unknown number on my cellphone last Friday and this was how our conversation played out:

Manila Bankers Life Insurance (MBLI): Good afternoon ma’am Clemens, this is _____ from Manila Bankers Life Insurance and I’m calling you today to inform you that in celebration of MBLI’s anniversary, you won an educational scholarship and health and wellness GCs.

Me: How did you get my number?

MBLI: You were recommended by one of our partner banks: BPI, BDO, Metrobank, RCBC, Security Bank, EastWest Bank, PNB, LandBank etc.

Me: What’s this about?

MBLI: As I said, you won an educational scholarship and health and wellness GCs which you must claim today or tomorrow from our office in Makati.

Me: All I need to do is claim it? There will be no product presentations, no seminars etc?

MBLI: Yes mam, you just need to pick them up at our office today or tomorrow and bring 2 valid IDs and a bank ID with you.

Me: Sorry but I can’t make it.

MBLI: Are you sure ma’am? Sayang naman ang scholarship and health and wellness GCs.

Me: I’m sure. Thanks for calling!

I made a quick search of Manila Bankers Life Insurance and was surprised to see the numerous incendiary comments and allegations of fraud:

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Sun Life Prosperity Card

A few months back, I received a message that one of the entries I entered for Sun Life’s Sinag Financial Literacy Awards made it as a finalist. Of course I was very, very thrilled! Sun Life is a game changer in the life insurance landscape and probably the biggest supporter of financial literacy in the country. It was such a big honor to become a finalist.

Sun Life prosperity card

Unfortunately, I didn’t win any of the prizes (sniff!) but I did come home with Sun Life’s Prosperity Card worth Php5,000.

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My Son, the Investor

photo_0153340612shhcydFor his birthday this year, my son received some cash from his godparents. Instead of starting a savings account or spending it on toys, I opted to open a stocks brokerage account for him since I’ve always entertained the thought of buying stocks in my son’s name considering that the yield is far superior than a savings account and it’s a good way of introducing him to stocks and investing in general at an early age.

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