best place to put your money
Best Place To Put Your Money

Best Place To Put Your Money

Where is the best place to put my money?
This is the question I asked myself when I
was still working as an OFW in Egypt.

I have a regular job and some savings monthly and I do not
have the time nor the patience to study Finance and Investment
on my own.

I Just need a place or medium to put my hard earned money.

I want to put my money in any place that earns income more
than a banks savings deposit interest of .250% per year.

I was able to attend an investment seminar one day and I was
amazed at how easy it is to grow my money without paying the
experts for help.

The Speaker in the Seminar Told us to Put our hard earned
money in the following:

   1. Mutual Fund - you put your money one time or if you save
       2000 pesos monthly like me, you may opt to contribute
       to the fund on a monthly basis.


         I opened a mutual fund account with the Philippine
         Stock Index Fund. This Fund is sold at BPI bank branches.
         Since I am from Baguio City, I went to a BPI branch in
         Harrison Road and the person in charge there told me to
         give an initial 10,000 investment and to contribute
         P1000 monthly but you can contribute for more if you want.

         I am aware that mutual funds invest in the stock market
         and the entity in charge of the money, fund management
         and the one who holds the stock certificate are different
         people and the fact that they are closely monitored by
         the Securities and Exchange Commission made me have a
         peace of mind that my money is secured.

         I was told not to expect for a big interest on my investment
         but I was assured that my money will earn more than the
         Philippine inflation rate, when I look at the Internet,
         the Philippines inflation rate is more or less 6% yearly
         so my money will probably earn more than 6% per year which
         to me is great.

   2. Insurance - the purpose of this is to protect our other
       investments. The Speaker in the seminar gave this

         In your entire life, you have only 2 kinds of investment.
         A savings account in a bank worth and a house worth
         1,000,000 pesos. If you do not have an insurance and you
         die, The 2 mentioned assets will be freezed until your
         heirs pay the 20% Estate tax levied by the government.

         Imagine, your family need to produce 200,000 pesos or 20%
         of 1,000,000. for the house to be transferred in their

         Insurance comes in, lets say that you have an insurance
         policy worth 200,000 pesos payable upon your death, your
         family will receive this money free from estate tax.

         Your family can use this money to pay the 200,000 estate
         tax on your house.

         So your insurance policy worth 200,000 pesos was able to
         protect your 1,000,000 pesos worth of property, your

   3. Banks - the basic form of investment, although the interest
        is low, you have the freedom to access your money at any time.

          Put your money in a bank means a time deposit account and
          not a savings deposit account.

   4. Real Estate - If you have a large savings and can afford to
       buy a house, condominium, or farm lands, this is one of the
       best place to put our money.

         Its nice to have our own house or condo, or we may opt to
         just rent it out and earn some good passive income monthly.

The Speaker in the Seminar advised us to diversify or to put our
money in the above 4 mentioned investment medium and we are on
our way to becoming a financially literate individual.