Archive for May, 2010
OFWs: The unsung and underrated heroes
OFWs: The unsung and underrated heroes
by: Kendrick Chua, CIS, RFP, The Wealth Warrior
First published in Pera-isipan Features of Philippine Online Chronicles.
When a class of hotel and restaurant students was asked how many of them want to go abroad for employment after their graduation, not a few raised their hands. Although still young, they are aware of the benefits as well as the risks involve. They are adamant on finding better opportunities for themselves outside the Philippines.
Underrated Modern Day Heroes
The OFWs have been called as modern-day heroes. No title is more befitting. Although they do not brandish any guns nor wield any swords, the money that they send back to the Philippines as remittances certainly shield the country from any economic calamity.
Not a lot of people understand how remittances play an integral part in the country’s economic growth. Next to export, the remittances are the largest source of foreign exchange. At present, the remittances stand at 10 percent to the Gross Domestic Product (GDP) and are responsible for fueling household consumption. Since consumption is two-thirds of the total output, a decline in this category can certainly cripple our economy.
Read the full article here.
Philippine economy grow 7.3%
In the first quarter of 2010, the Philippines’s Gross Domestic Product (GDP) expanded by 7.3 percent, rebounding from a paltry 0.5 percent of the same period last year. The growth was widely unexpected and exceeded most forecasts.
The GDP is the sum of all goods and services produced and rendered within the Philippines during a given period. The growth was broad-based with the industry and services sector offsetting the poor performance of the agriculture, fishery and forestry sector. The manufacturing, utilities and mining & quarrying subsectors grew by 15.7 percent in the first quarter. This was a reversal from the 2.6 percent contraction a year before.
Read more
Sun Life It’s Time! Contest: Tell a Friend-Win a Trip to Boracay!
If you still haven’t had the chance to go to Boracay this summer, join this raffle! Who knows? You just might be the lucky advocate to win a trip for two (3D2N) to Boracay with accommodations in Boracay Regency Lagoon!
How to join:
(This raffle is open to Philippine residents only.)
1. ) Register through the It’s Time! website: http://www.itstime.com.ph/tell/, by providing a valid email address and your full name (as appearing in your birth certificate).
2. ) Wait for the confirmation email in your inbox. As soon as your registration is complete, you may start referring the email addresses of your friends. At least five (5) valid email addresses must be referred to qualify for the promo.
Sun Life Financial agency force, members of the Marketing Team, and all SLFP employees with the position Department Head and up, and their relatives up to the second degree of consanguinity are disqualified from this promo. These persons and their email addresses are also considered as invalid referrals for purposes of this promo.
3.) Aside from referring at least 5 email addresses of your friends, you must also post your story on the advocate page, http://www.itstime.com.ph/be-an-advocate/ to qualify for the promo. This means that you must post a pledge of personal financial commitment (e.g. It’s Time for me to start saving more of my salary).
4. ) One (1) grand prize winner will receive a travel certificate for 3 days and 2 nights accommodation at Boracay Regency Lagoon and round-trip airfare for two, including round-trip terminal fees, land and boat transfers from the hotel to the airport. This promo is valid from May 13, 2010 to June 20, 2010 only. Travel period is from May 2010 to October 15, 2010 only.
5.) Only one (1) grand prize winner will be drawn via electronic raffle, with thirty- eight (38) minor winners of Sun Life items, (i.e., three (3) winners of Rudy Project analog watches, ten (10) winners of SLF Desktop Calendars, five (5) winners of SLF messenger bags and twenty (20) winners of SLF diaries). An entry can only win once in the promo. An entry who has already won is deemed ineligible to win other prizes thereafter. For example, if a previous winner’s entry has been picked again, his/her entry will be deemed invalid and another winner will be drawn. Sun Life Financial has the exclusive right to determine the validity and eligibility of any entry. Taxes on the prizes, if any, shall be for the sole account of the winners.
6. )Raffle draw will be on June 25, 2010 at 5/F, Tower 2, The Enterprise Center, 6766 Ayala Avenue, Makati City. The prizes are not convertible to cash.
7. ) Winners will be notified via a phone call and email coming from a representative of Sun Life Financial, with information on how to claim their prizes. Winners are required to present at least 2 valid photo-bearing IDs. Prizes must be claimed at 5/F, Tower 2, The Enterprise Center, 6766 Ayala Avenue, Makati City.
8. ) If a winner cannot claim his/her prize personally, his/her representative must bring his/her 2 valid photo-bearing IDs, notarized special power of attorney authorizing the representative to claim the prize, and the winner’s 2 valid photo-bearing IDs. Minors below 18 years must be accompanied by a parent or guardian who must likewise present at least 2 valid photo-bearing IDs. Prizes that remain unclaimed within thirty (30) days from raffle draw are deemed forfeited in favor of Sun Life Financial Philippines.
9. )The winners must agree to authorize Sun Life Financial Philippines to use his/her name and image in any publicity release or advertising material that may be made in relation to this promo in any medium (TV, Radio, Print) without limit as to the time and number of exposures.
Isaac Newton: A Tale of Investing
Isaac Newton: A Tale of Investing
Isaac Newton, known for his scientific accomplishments, was regarded as one of the most influential scientists in history. But little do the people know that Newton also invested in stocks.
Hey, the scientist also has to let money work for him!
- In 1720 Isaac Newton bought shares in the South Seas Company and then sold it a short time later for a profit of 7,000 pounds (Roughly $1.7 million in today’s money)
- The stock continued to rise and Newton bought back at a higher price. (We’re seeing a case of serious greed here.)
- The stock price dropped and Newton wound up losing 20,000 pounds (about $5 million today)
- “I can calculate the movement of the stars, but not the madness of men.”
Moral of the story: Not even one the greatest mathematicians in the history can predict the movement of stock prices. Don’t try it. Stick to your investment principles!
What I Learned From My Mom
What I Learned From My Mom
by: Kendrick Chua, RFP, CIS, The Wealth Warrior
(First published in Business Mirror May 5, 2010 under the Opinion section, RFP column)
“Who is your financial idol?” was one of the threads posted in an online forum. As I read the answers of the members, I was not surprised to find the names of Jim Rogers, Warren Buffett, Robert Kiyosaki and Peter Lynch. The names of these investors have been immortalized. They are even considered legends.
While I have always admired these investors and their investment principles, I realized that the greatest money management lessons I learned were from someone I hold most dear—my mother.
Investing in Camaya Coast…a dream fulfilled.
In my previous post, Pursuing your Financial Dream, I hinted of wanting to buy a beach-front property. Although I never specifically mentioned it was Camaya Coast, I did put a link at the end of it.
Last Saturday when I went there for my tripping, I was amazed at how magnificent the place was. Pristine white sand, clear blue sea, mangroves, and the proposed developments made me fell in love with it. It was, as corny as it sounds, love at first sight.
