Buti na lang nag-attend kami nito
The seminar was opened by a talk from the sponsor, major homes, about their project in Manila now: the condormitel. It's a term for a dorm which has the amenities of a regular condo.
After that was a talk about asset allocation by Jess Uy. This talk was aimed at showcasing the importance of having a balanced portfolio.
He divided the group into 5 sub-groups and did a simulation activity. Each group acted as a fund manager for a $1M fund, with aims of reaching a 10% annual growth. And since it was a simulation activity, we were informed about what was happening in the world at that time. We were tasked to invest for 3 consecutive years. And in each year, there were world events like crisis, war, opening of economies, martial law, etc. It was exciting :) At first, most of us were lost at what he was saying: large growth fund, large value fund, bonds, etc. But after the first round, we felt like we had a clue of what we were doing (feelingera lang :).
For the first year, our group was the nearest to the target. The second year was a year of loss. For the third year, we were the second best group.
It was fun and informative. Basically, what i got from the exercise was:
- it is important to have a balanced portfolio because it balances your gains, and also your losses
- stick to your strategy
- moderate your greed :)
After that, Rico Hizon did a pep talk! He talked about how the Philippines was always in the backburner in the previous years, but now, we are starting to shine! A lot of people are interested in us. And he was encouraging us to be proactive, have the initiative to take part in this "take off". It was a short but nice talk.
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| Rico Hizon giving a pep talk (sorry malabo pa yung kuha ko) |
And then, it was Randell Tiongson's turn to inspire people. He talked about achieving financial peace. It's a long step, but a very doable one :) These are the steps he mentioned:
- Increase your cash flow
- Get out of debt
- Create emergency fund (6 months worth of living expenses is ok, better though if you can save 1 year's worth of living expenses)
- Ensure proper protection (life, health, non-life)
- Build long-term savings
- Preserve your estate
- Save/Invest 30% of your income and live on the remaining 70% of it. The 30% comes first because when you get your pay, you should automatically exclude this amount and work on the remaining 70%, not the other way around.
- Personal finance is 80% behavior and 20% skill. The behavior counts more.
- As with a lot of things in life, patience is a virtue :) One will not achieve financial peace overnight. Therefore, take baby steps, be patience. Eventually, you'll get there.
Overall, the seminar was very very good. The talks were very informative and empowering. And personally, it was not just a finance talk. It was also a talk about life and inspiration. Although Randell talked mainly about financial peace, he also factored in some thoughts on life, family, community, giving back, and God.
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| One of the organizers (in white) with Randell Tiongson (in black) and Jess Uy (in stripes) |
Yes, money is money. We need it because it fuels a lot of things in life. But in the end, it's just that, money. We can't take it with us when we die.
Finally, I noticed that the organizers were quite young, which I found inspiring because we see young people doing things that make a difference in other people's lives. Average yuppies I suppose who are making positive changes in their own little way.
Inspirations are indeed everywhere.
